President Ferdinand “Bongbong” Marcos reaped praises from the Private Sector Advisory Council or PSAC for his visionary approach to fostering economic growth, which was the topic of 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, Marcos 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.

Focus on luring capital

“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.

Marcos’ 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.