PH Business Leaders call for stronger ties between Public and Private Sectors

As the Philippines prepares to elect a new leader, corporation heads believe that the new administration should focus on improving the connection between the public and private sectors.

Cosette Canilao, CEO of Aboitiz InfraCapital, has said that the government must not “shun” the private sector as she spoke in the Global CEO survey conducted last Wednesday.

In the APAC Region, 76% of CEO surveyed by the PwC showed optimism towards the prospect of a global economic recovery within the year. Whereas in the Philippines, business leaders are hoping for improved relations with the new administration.

“We need to have that constant dialogue. There should be a bit more trust between the public and private sectors. I hope that’s revived in the next administration,” said Canilao.

Before her position in the infrastructure arm of Aboitiz, Canilao headed the nation’s Public-Private Partnership Center. The center has launched several infrastructure projects such as the Muntinlupa-Cavite Expressway, 9,296 classrooms, and the Automatic Fare Collection System.

When the Aquino administration ended the center had 45 projects slated to be completed, however, the current leaders decided to go a different route. Pres. Duterte’s Build, Build, Build program took on projects mostly funded by official development assistance or taxpayer’s money and transferred funds to private firms for operational purposes.

“If the new government wants to pursue infrastructure development, there’s no way they can’t ask for the help of the private sector,” Canilao added.

President and CEO of D&L Industries, Alvin Lao, joined Canilao in the same event last Wednesday. He then noted that the political climate is expected to remain “very stable… no matter who wins.”

“I’m cautiously optimistic as well, there will be changes whoever wins. Whoever succeeds will have a different character. Whoever is next president, we should be okay,” Lao said.

Source: Philstar