Business leaders rallied for the support of the private sector in sustaining the push for more economic recovery programs to address the economic slump and help small and medium entrepreneurs digitize their business.
“If we will act in unison, work together, join forces and focus on some key areas where we can all make a difference, there’s absolutely no doubt in my mind that the private sector can be a massive generator of goodwill in our country and a solution to many of our problems,” said Jaime Augusto Zobel de Ayala, Ayala Corp. chairman, in a recent virtual forum organized by the Stratbase Albert del Rosario Institute.
“We pivoted our businesses to stay afloat so we could extend payrolls and preserve jobs, knowing that our employees depended on us to feed their families afford other expenses.
We supported our customers so they too could stay afloat and turn and in turn extend similar help to their own set of customers,” Zobel added.
Stratbase ADRi chairman Albert del Rosario said the country now has an opportunity to overhaul the flawed structures of government bureaucracies to become a digitally revitalized ecosystem of efficient processes and well-managed resources.
“The governments of neighboring economies and other developing nations have long seen this and have been investing heavily in building strategic digital infrastructure to harness the benefits of a digitally enabled, and connected population,” Del Rosario added.
Benedicto Yujuico, president of the Philippine Chamber of Commerce and Industry, said the group has put up the Innovation Center to teach and train the youth on technology so “we will be able to capitalize on the competitive advantage of a young and educated population.”
Edgar Chua, chairman of the Makati Business Club, concurred that “if our youth are not properly equipped and nourished, the sweet spot in reality will be a sore spot as they will not be able to realize their full potential and support the country’s development plan.”
Stratbase ADRi president Dindo Manhit in his statement said, the private sector is key in creating a more sustainable and inclusive economic recovery through eight strategic initiatives.
These are: address inequality and ensure livelihood by creating jobs; reduce the digital divide through digital acceleration; address climate change and reduce greenhouse gas emissions; help strengthen health system; push for public private collaboration driven by public interest; focus and advocate for stakeholder capitalism; create access to opportunity: quality education and social protection for all; and demand transparency and accountability in governance by encouraging an entrepreneurial state and smart local governments.
