EconomyForex

Harnessing the power of national teamwork

4 Mins read
President Marcos welcomes members of the Private Sector Advisory Council (PSAC) in Malacañang led by PSAC Convenor & Aboitiz Group President and CEO Sabin M. Aboitiz (fourth from right).

In its first 100 days, the new Marcos administration has hit the ground running. The President’s campaign promise to transform the lives of Filipinos by transforming the Philippine economy is now being vigorously pursued by his economic team through a focused development agenda that appears to combine the inherent powers of both business and politics to move things forward faster, smarter, and stronger.

One of the things the President made clear from the very beginning is that his administration’s critical economic objectives can be fully and successfully achieved through collaboration with the private sector, as they have the expertise and more importantly, the resources needed to implement the solutions required by Marcos’ economic plan.

From left to right: Aboitiz InfraCapital President and CEO CosetteV. Canilao, Local Water Utilities Administration (LWUA) ActingDeputy Administrator Financial Service Maria Rosan D. Perez, former Metropolitan Waterworks and Sewerage System Deputy administrator Leonor C. Cleofas, LWUA Officer-in-Charge Eileen L. Dela Vega, Robinsons Land Corp. President and CEO Frederick D. Go, PBBM, PSAC convenor and Aboitiz Group CEO Sabin Aboitiz, International Container Terminal Services, Inc. Chairman and President Enrique K. Razon, Metro Pacific Investments Corp.Chairman and President Manuel V. Pangilinan, Atok-Big Wedge Co., Inc. President Eric Ramon O. Recto, Gie Polanco and Ginggay Hontiveros-Malvar of the Aboitiz Group

And so the first action step initiated by the administration in this regard was to immediately call for the formation of a Private Sector Advisory Council (PSAC) composed of a wide selection of the country’s top CEOs from all critical industries. As the CEO of a trusted, reputable, and highly capable conglomerate, Sabin Aboitiz was chosen to convene the council and oversee its mandate, which is as follows:

Through advisory, recommendation, and potential collaborative implementation, PSAC will help and support the Marcos administration in meeting its objectives of economic growth, job generation, improved government service through digitization, universal health care, food security, and the improvement of Philippine tourism and infrastructure. PSAC would also offer advice on best practices in terms of accelerating economic activity, encouraging investments, reducing red tape, and promoting ease of doing business.

President Marcos meets with the Digital Infrastructure group of the Private Sector Advisory Council in Malacañang on Aug. 3 to discuss nationwide internet connectivity and digitalization initiatives. This sector is headed by Henry Aguda, the Chief Technology & Operations Officer of UnionBank. With members Alfredo Panlilio of PLDT, Ernest Cu of Globe Telecom, Ramon Jocson of BPI, and Dennis Uy of Converge ICT.

The council is divided into six sectoral groups with their own teams of CEOs and top industry captains focused on addressing challenges in infrastructure, tourism, job generation, healthcare, digital infrastructure, and agriculture, respectively. The groups and council regularly and directly report to the President on the challenges and opportunities of the business sector, and the candid discussions that take place among its members are geared towards consistently adding significant value to the administration and its goals.

The Healthcare group of the Private Sector Advisory Council meets with President Marcos in Malacañang on how Public-Private Partnershipwill help address the country’s most pressing health concerns. Paolo Borromeo, President and CEO of Ayala Healthcare Holdings, Inc. leads the group. With members Clinton Campos-Hess of United Laboratories, Dr. Nicanor Montoya of MediCard Philippines, Fr. Nicanor Austriaco, Jr. of UST, and Dr. Harish Pillai of Metro Pacific Hospital Holdings.

The groups work closely and cooperatively with their counterpart government departments and agencies to identify vetted and implementable policies and projects that support the government’s priorities.

In photo (from left to right): Robinsons Land Corp. Business Development Officer Leslie Vanessa Lim, PSAC CommunicationsLead Ginggay Hontiveros-Malvar, PSAC Secretariat Lead Gie Polanco, President Marcos, PSAC Tourism Sector Lead and Robinsons Land Corp. President and CEO Frederick D. Go, Hertz Philippines CEO Rene Limcaoco, and International Relations Philippine Retailers Association Vice-Chairman Roberto Claudio, Sr.

The formation of PSAC could be an initiative of the Marcos administration to form a governance structure that maximizes the benefits of inclusivity, generating the best ideas, practices, and information from all worlds in order to come up with the best solutions. Now that he’s got a super congress behind his back to make the passage of much-needed legislation a less encumbered and politicized process, it would only make sense to get a consensus of top conglomerates to further unify the country towards decisive action that would benefit the people immediately.

The Jobs Sectoral group of the Private Sector Advisory Council with President Marcos: (from left to right) Kevin Tan of Alliance Global Group, Joey Concepcion of RFM, Rizalina Mantaring of Ayala Corp., Tessie Sy Coson of SM Investments, PBBM, Doris Ho of the Magsaysay Group, Lance Gokongwei of JG Summit, Sabin Aboitiz together with Gie Polanco and Ginggay Hontiveros of the Aboitiz Group

“While we remain competitive as required by a functional capitalist system, we believe in the President’s call for unity in the private sector, so that business can step up, join forces, and combine all our unique strengths under one organized group, and use that resulting synergy to help the administration steer our country to where it needs to go, and where it actually can go. In an underdeveloped economy like ours, this is the most logical course of action,” said Aboitiz. “You’re going to need a few giants if you want to move mountains.”

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