PSAC strengthens ties with US-ASEAN Business Council

MANILA -- The Private Sector Advisory Council (PSAC) led by convenor and Aboitiz Group President and CEO Sabin Aboitiz met with the US-ASEAN Business Council at the 2022 Philippine Business Mission meeting at The Grand Hyatt Manila, Taguig City on October 25 - 28, 2022 to boost ties and cooperation.

Aboitiz said that the Marcos administration has taken all the necessary steps to make it as easy as possible for American companies and investors to do business here. The President and his team truly listen to the business community and treat them as real partners.

American Chamber of Commerce of the Philippines (AmCham) Executive Director Ebb Hinchliffe described the President’s economic team as the best team to navigate the Philippines’ economic recovery following lockdowns caused by the Covid-19 pandemic.

Hinchliffe also said that President Marcos’ economic team which includes Finance Secretary Ben Diokno, Trade Secretary Alfredo Pascual, NEDA Secretary Arsenio Balisacan, Bangko Sentral Governor Felipe Medalla, Budget Secretary Amenah Pangandaman, and Energy Secretary Popo Lotilla, are “the best people on their list and sends a strong message of confidence to foreign investors.”

“A lot of American companies are coming to this country. This new administration, with these secretaries I just named, and of course Mr. Aboitiz here in his position, that says so much to the American investors. So, from the Amcham’s standpoint, as I said there is no better time to invest in the Philippines,” Hinchliffe said.

Retired Ambassador Michael Michalak, US-ASEAN Business Council Senior Vice President and Regional Managing Director, echoed AmCham’s optimism on the potential of the Philippines and lauded President Marcos Jr.'s move to regularly consult the private sector, which is a key part in leading the country’s economic recovery and development.

Michalak also pointed out that the recent US visit of President Marcos Jr. was responsible for their renewed interest in the Philippines, especially with the recent laws passed to attract more foreign firms to invest here.

The PSAC, composed of business leaders and experts, was formed to help speed up economic development and transformation. Its sectoral groups regularly report to President Marcos Jr. to provide feedback on what is happening on the ground and will make recommendations on modern policy development.

Aboitiz Group President and CEO and Private Sector Advisory Council (PSAC) lead convenor Sabin Aboitiz was joined by PSAC members RFM Corporation President and CEO Joey Concepion, Ayala Healthcare Holdings, Inc. President and CEO Paolo Borromeo, and Ayala Corporation Independent Director Riza Mantaring in the 2022 Philippine Business Mission meeting organized by the US-ASEAN Business Council at The Grand Hyatt Manila, Taguig City on October 25 - 28, 2022.

The Private Sector Advisory Council

The Private Sector Advisory Council (PSAC) has been established strategically by President Ferdinand Bongbong Marcos Jr to create and strengthen innovative new synergies between the private and public sectors. PSAC is composed of business leaders and experts across six main sectoral groups — Agriculture, Digital Infrastructure, Jobs, Healthcare, Build-Build-Build, and Tourism.

The Council will help the government deliver on its commitment to transform the Philippine economy by implementing robust infrastructure programs, creating more jobs and attracting more investors, digitizing processes, improving agricultural productivity through the recalibration of micro, small and medium enterprises (MSMEs), jumpstart Philippine Tourism and ensuring an equitable, sustainable, and inclusive business landscape for Filipinos.

PSAC will continuously recommend modern policy development to the government and report regularly to the President to provide feedback and adjust recommendations as necessary based on what is happening on the ground. Follow PSAC on Twitter to get the latest news as it breaks, https://twitter.com/PSAC_PH. (PR/Photos: PSAC/ GINGGAY HONTIVEROS – MALVAR)