Edmund Alan A. Qua Hiansen l 25 July 2025 at the Fairmont Makati
Honorable Benjamin Magalong, Mayor of the City of Baguio, colleagues and honored guests:
Good day, thank you for taking the effort to here today for our 7th General Membership Meeting, on a topic of pressing importance, the Quest for Good Governance.
Before I begin, I would like to thank our valued sponsors, whose generous support makes our activities possible: Noah Business Applications, Ovialand, PHINMA Corporation, Romulo Law, BDO, BPI, SGV & Co., PwC Philippines Isla Lipana & Co., KPMG, Healthway, Asticom, San Miguel, Sun Life Investments, P&A Grant Thornton, Robinson’s Land, Security Bank and Jollibee.
To provide context, the United Nations Development Programme describes good governance as a system where governance is capable, responsive, inclusive, and transparent. I see each of us here, as business and public leaders, as stewards responsible for looking out for our businesses, our people, our families, and ultimately our country.
As we gather, many of our fellow Filipinos are facing yet another natural disaster. Non-stop torrential rains have flooded large parts of the Philippines—submerging homes, displacing families, destroying livelihoods, and, most tragically, costing lives. Our hearts go out to all the victims of this crisis. We stand in solidarity with every person battling the rising waters, those seeking shelter, and those grieving unimaginable loss. Let us never forget that behind the statistics are real people—our kababayan—who deserve safety, dignity, and justice.
And yet, as we observe this disaster unfold, we are forced to ask: Why does this keep happening? Year after year, flood after flood, the story stays the same—except now the floods are worsening.
Every year, we hear that billions upon billions are allocated for flood control, drainage systems, and disaster resilience, including climate change adaptation. Hundreds of billions of pesos are set aside in the national budget for flood mitigation projects. Although the peso amount is substantial, this would be a valuable investment if it effectively reduces flooding. This raises questions about accountability and governance, especially since earlier this year, FINEX raised the alarm that funds designated for flood control are vulnerable to corruption. In next year’s national budget, hundreds of billions more will be allocated to this as well. Our people deserve better, much better. Our people deserve systems that work for them and that improve their quality of life.
And that is why we are here today, so that we can identify, as FINEX and as leaders, our role in the quest for good governance.
Former United Nations Secretary-General Kofi Annan said: “good governance is the single most important factor in eradicating poverty and promoting development.” This highlights the importance of good governance to the business community.
At this point, we would also like to extend our heartfelt thanks to Mayor Magalong for joining us today; I am sure we will learn a great deal from him. Mayor Magalong has consistently demonstrated that honest leadership and principled governance are not only possible but also powerful.
I encourage everyone to listen closely, as his message is not only for our public servants but for all of us here today, as leaders in both the private and public sectors.
Let us all commit to being part of the solution. Let us take the lessons we learn today and apply them to our businesses, our organizations, and our communities. Let us be the stewards that our country needs, advocating for transparency, accountability, and the common good. Thank you all once again for your presence and participation. I look forward to a fruitful and inspiring discussion. Thank you.