MANILA -- Former President Gloria Macapagal-Arroyo on Wednesday cited the strong belief of the private sector in President Ferdinand R. Marcos Jr.’s agenda for the country’s economic recovery and growth.

“Alam ng Pangulo na sa pag-uunlad ng ating bansa, napaka-importante ang pagsasama ng gobyerno at ng pribadong sektor,” the House deputy speaker said in an interview.

The former president is part of the delegation of President Marcos in Davos, Switzerland for the 2023 Annual Meeting of the World Economic Forum (WEF).

“At ikalawa naman, malakas at matatag ang paniniwala ng private sector sa ating Pangulo,” Arroyo added.

In his opening remarks for the high-level dialogue- investing in infrastructure resilience, President Marcos recognized the role of private sector partners as he pointed to the recent amendments to the Build-Operate-Transfer (BOT) Law which address the concerns regarding the financial viability and bankability of public-private partnerships (PPPs) as well as issues on potential delays.

According to the President, his administration aims to raise the confidence of investors, especially those that will benefit the sectors of health, education, and agriculture.

“For this reason, we have taken a proactive approach. We have created a Private Sector Advisory Council (PSAC). Some members are with us and we have formulated many strategies so that we can position the Philippines properly for [the] development and evolution of the new global economy,” President Marcos pointed out.

Sabin Aboitiz, the lead convenor of PSAC, is among the business leaders who joined the President’s delegation for the WEF annual meeting in Davos.

Seven of the country’s business tycoons are in Davos to support the inaugural participation of Marcos in the forum.

Aside from Aboitiz, the President’s official business sector delegation include Kevin Andrew Tan (Alliance Global); Jaime Zobel de Ayala (Ayala Group); Lance Gokongwei (JG Summit Holdings); Ramon Ang (San Miguel Corp.); Teresita Sy-Coson (SM Investments); and Enrique Razon (International Container Terminal).

In an interview on Tuesday, Aboitiz said the private sector is “very, very happy” to work with the Marcos government.

“The strong belief in the private sector, that combination is perfect because you know, not only do you get the money but the advice and the enthusiasm, right?” Aboitiz said.

With regard to the chief executive’s attendance at the WEF, former president Arroyo noted that President Marcos “speaks their language.”

“At matagal nang paniniwala ko na magiging maganda ang dating ni Pangulong Marcos dito sa Davos. He is Western-educated at intelihente siya at articulate siya. To put it in English, he speaks their language,” Mrs. Arroyo said. (PCO)