The Institute of Corporate Directors Philippines (ICD PH) emphasized the crucial synergy between the public and private sectors in advancing good governance to promote inclusive growth and combat corruption.
At a press briefing launching the Global Governance Summit on September 19, ICD board members united in advocating for “Doing things right and the right way.”
“It takes two to tango,” said Dr. Jesus Estanislao, ICD chairman emeritus and founder. He stressed the importance of corporate governance in fostering growth and highlighted the need for strong partnerships with the public sector to create a positive environment that attracts investment and achieves inclusive growth.
Imelda Tiongson, ICD vice chairman, underscored that good governance is vital for poverty reduction and building global trust. She explained that effective governance ensures transparent use of public funds, promotes private sector growth, and strengthens the rule of law, all of which are key to reducing poverty.
Senen Matoto, ICD board member and president of the Rotary Club of Makati, added that good corporate governance makes companies more accountable and transparent, improving their efficiency and access to capital.
To instill good governance early, the ICD is collaborating with schools and church organizations.
Atty. Pedro Maniego, ICD PH president, praised the organization’s achievements but acknowledged that the Philippines still lags behind its Asean neighbors in corporate governance. He emphasized that good governance is essential for attracting investment and boosting the country’s global reputation. — EDISON JOSEPH GONZALES
