By ‘There’s traffic all over the world in areas that the economy is really doing [well],’ says Joey Concepcion III, who is part of the group of billionaires advising Marcos on the economy
While workers languish in hours-long commutes and car rides, a private sector advisor of President Ferdinand Marcos Jr. says not to worry; traffic just means there’s plenty of economic activity.
“Of course, you have traffic. I mean, there’s traffic all over the world in areas that the economy is really doing [well],” said Joey Concepcion III, who acts as the President’s private sector lead advisor on the jobs sector.
Concepcion is part of Marcos’ Private Sector Advisory Council, a close-knit circle of billionaires that provide recommendations on infrastructure, agriculture, tourism, health, jobs, and digital infrastructure.
Concepcion was listed as the country’s 41st richest Filipino in 2020, drawing his wealth from his stakes in Concepcion Industrial – local manufacturer of Condura, Carrier, Otis, Kelvinator, among others – and RFM Corporation – the company behind Selecta, Fiesta, and Sunkist.