PCCI Highlights Public-Private Partnerships in Economic Briefing for 2023

The 2023 Philippine Economic Briefing was held by the Philippine Chamber of Commerce and Industry (PCCI) Banking and Finance Committee on February 27, and featured prominent speakers from both the public and private sectors, including Sabin Aboitiz, the Lead Convenor of the Private Sector Advisory Council (PSAC) and CEO of Aboitiz Group.

The event focused on government interventions and policies that could alleviate the negative impact of global crises while opening up trade and investment opportunities. During the briefing, Aboitiz emphasized the importance of partnerships between the private and public sectors in driving progress for the Philippines, citing the PSAC as an example.

Aboitiz spoke about the PSAC’s six sectors: digital infrastructure, basic infrastructure, agriculture, healthcare, tourism, and jobs. Each sector has a group of business leaders who are committed to the belief that the Philippines can become the Next Big Thing in Asia. The PSAC aims to provide smart and pragmatic recommendations that are built to last, coming from the best business and economic minds in the country.

The PSAC has already made significant progress in various sectors, with President Ferdinand “Bongbong” Marcos, Jr. approving many of their recommendations. For instance, they institutionalized policies on streamlining permits for telcos in digital infrastructure, launched the GoDigital Pilipinas (GDP) movement, and recommended supporting the amendment of the Build-Operate-Transfer (BOT) Law Implementing Rules and Regulations (IRR), supporting the creation of the Department of Water, and the privatization of the operation and maintenance of airports in basic infrastructure. In agriculture, they pushed for the digitalization of the Agri System and introduced the Food Balance Sheet, while for healthcare, they recommended the audit and digitalization of PhilHealth, the ladderized program for nurses, the fully digitized FDA, and encouraged green lanes. The PSAC also advocated the revival of holiday economics and the Value-Added Tax (VAT) Refund Program for foreign tourists, as well as replacing the military uniforms of Philippine Coast Guards in airports to kickstart the tourism industry.

Aboitiz noted that the President runs the government like a corporation, always keeping the interests of the Filipino people in mind. Despite the challenges facing businesses and economies, Aboitiz remained optimistic about the future of the Philippines, citing public-private partnerships and synergies as essential in building the country to become the Next Big Thing in Asia.