PSAC: BBM all out for business
The new Marcos administration has taken all the necessary steps to make it as easy as possible for American companies and investors to do business here
Daily TribuneThe new 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 Private Sector Advisory Council, led by convenor and Aboitiz Group President and CEO Sabin Aboitiz (third from left), met with the US-ASEAN Business Council at the 2022 Philippine Business Mission meeting held at The Grand Hyatt Manila, Taguig City last 25 to 28 October to boost ties and cooperation. | Photograph cpurtesy of Aboitiz Group
Industry captains have pursued the promotion of the Philippines as the ideal destination for foreign investors.
"The new 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 us as real partners," Aboitiz Group president and CEO and Private Sector Advisory Council lead convenor Sabin Aboitiz said.
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 25 to 28 October 2022.
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.
During the opening meeting, American Chamber of Commerce of the Philippines Executive Director Ebb Hinchliffe described President Ferdinand "Bongbong" Marcos Jr.'s economic team as "the best team to navigate the Philippines' economic recovery" following lockdowns caused by the Covid-19 pandemic.
Able team
Hinchliffe added President Marcos' economic team, which includes Finance Secretary Benjamin Diokno, Trade Secretary Alfredo Pascual, National Economic and Development Authority 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.
