The Private Sector Advisory Council (PSAC) extends its full support to President Ferdinand R. Marcos Jr. for his visionary approach to fostering economic growth, as articulated during his address at the World Economic Forum on East Asia. President Marcos Jr.’s commitment to attracting investments, enhancing the skills of Filipino workers, and embracing new technologies reflects a strategic direction that resonates deeply with the private sector.
In his remarks at the forum, President Marcos Jr. underscored the importance of strategic investment partnerships between the private and public sectors. PSAC applauds the President’s emphasis on directing investments towards sectors that not only yield profitability but also contribute significantly to the growth and development of the Philippine economy. As advocates for sustainable economic progress, we believe that targeted capital investment in emerging sectors such as the digital space, new technologies, and green industries will drive innovation and competitiveness.
“I commend President Marcos Jr.’s forward-thinking approach to economic development, as outlined during the World Economic Forum on East Asia. His focus on attracting investments, upskilling Filipino workers, and embracing new technologies reflects a strategic vision that resonates with the private sector’s objectives,” PSAC strategic lead convenor and Aboitiz Group president and CEO Sabin Aboitiz said.
“PSAC will continue to collaborate with the government in driving sustainable growth and prosperity for the Philippines”, Aboitiz added.
Furthermore, PSAC commends President Marcos Jr.’s focus on re-skilling and upskilling the Filipino workforce to meet the demands of the evolving economy. By prioritizing training programs and technology transfer initiatives, the government aims to empower workers with the specialized skills necessary to thrive in the global labor market. PSAC recognizes the crucial role of skilled labor in driving economic prosperity and supports initiatives aimed at enhancing the employability and productivity of Filipino workers.
President Marcos Jr.’s forward-thinking approach aligns with the private sector’s objectives, which seek to foster an environment conducive to sustainable growth and development. PSAC stands ready to collaborate with the government in implementing policies and initiatives that promote investment, innovation, and inclusive economic progress.
As the Philippines assumes its role as the strongest-performing Southeast Asian economy in 2024, PSAC remains committed to supporting President Marcos Jr.’s vision for a resilient and prosperous nation. Together, we will work towards realizing the full potential of the Philippine economy and ensuring a brighter future for all Filipinos.
About 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 comprises business leaders and experts across six main sectoral groups — Agriculture, Digital Infrastructure, Jobs, Healthcare, Build-Build-Build, and Tourism.
The Council helps 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, and 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 based on what is happening on the ground.
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