The Private Sector Advisory Council (PSAC), in collaboration with the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA), has significantly bolstered public-private partnerships and investment opportunities in the Philippines. This partnership was showcased at the recent Philippine-New Zealand Business Matching Session on April 18, 2024, at Raffles Makati, underlining the Philippines’ emerging status as an investment hub.
OSAPIEA and PSAC were honored to host The Right Honourable Prime Minister Christopher Luxon of New Zealand and his delegation, marking a milestone in the longstanding relationship between the two countries. This visit emphasized the deep cultural and educational ties, enhanced by scholarships that support over 80,000 Filipinos in New Zealand, fostering future leaders and strengthening bilateral relations.
“We explore new opportunities to further strengthen and expand our bilateral ties through increased economic partnerships. And for us, there is no better time than now for New Zealand to be part of the Philippines’ promising growth story and steady ascent to the global stage,” said Secretary SAP-IEA Frederick D. Go.
Under President Ferdinand R. Marcos Jr.’s administration, the government and private sectors have actively fostered a climate conducive to the growth of both public initiatives and private enterprises. The business session provided a vital platform for Filipino and New Zealand businesses to develop partnerships, particularly in sectors like dairy, meat, wood, and technology.
Sabin Aboitiz, PSAC strategic lead convenor and President and CEO of the Aboitiz Group, highlighted the unique investment climate: “There has never been a better time to invest in the Philippines, thanks to the unprecedented collaboration between the private sector and the public under President Marcos Jr. This cooperation has enabled an environment where both government and business can thrive.”
Together, PSAC and OSAPIEA have played a crucial role in shaping the country’s economic strategies, linking government policies directly with business innovations. This includes enhancing the business climate through initiatives such as the Green Lanes for strategic investments and tax law reforms, which promote business expansion and transparency.
Recent legislative developments, like the Retail Trade Liberalization Act and the Public Services Act, have opened new avenues for foreign investments, ushering in a promising era for investors in sectors such as electronics, semiconductors, and renewable energy.
“A pivotal moment is upon us in the Philippines’ economic journey,” stated Aboitiz. “Our collaboration with OSAPIEA is key to fostering an investment-friendly environment. We are committed to leveraging this partnership to stimulate growth and position the Philippines as a leading player in the global economic landscape.”
PSAC remains dedicated to supporting and partnering with OSAPIEA and the broader government to cultivate an ecosystem favorable to significant economic growth and development, ensuring that the Philippines not only meets but surpasses its economic aspirations.
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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