Strengthening public-private synergy
Navigating the complexities of governance and fiscal policy is never simple—yet the costs of inaction are immense. Between 2023 and 2025, the Department of Finance (DOF) estimated that bureaucratic delays and opaque government processes drained the Philippine economy of P118.5 billion, while persistent gaps in transparency continued to erode investor confidence.
Recognizing these challenges, the Makati Business Club (MBC) brought together senior government officials, corporate leaders, and policy experts through its Business-Government Forum, designed to foster open dialogue and bridge perspectives for a stronger economy built on good governance and accountability.
Acting Budget Secretary Rolando Toledo highlighted the need to institutionalize reforms, so progress endures beyond administrations. Isabela City Mayor Sitti Hataman showed how transparency and civic engagement can turn good governance into real growth. Anti-Red Tape Authority Secretary Ernesto Perez stressed that steady collaboration between the public and private sectors remains central to building transparency and accountability. But execution with intention must go hand in hand with vision to achieve tangible results.
The MBC has long worked with government agencies to promote transparent and inclusive policymaking. Collaborations with Cabinet secretaries and local governments have contributed to simplified regulatory procedures, enhanced digital platforms for public services, and initiatives that encourage investor participation. Bringing private sector expertise to the table ensures government programs are responsive to real-world conditions while safeguarding the public interest.
The forum was organized as a nod to the Government Dialogue Series, an initiative engaging key national and local leaders. These meetings underscored the critical role of private sector input in shaping policies on economic growth, digital transformation, and public service efficiency.
In October, I joined our members to meet with then Finance Secretary Ralph Recto and Bureau of Internal Revenue Commissioner Romeo Lumagui Jr. to raise key fiscal concerns, particularly around excessive and inconsistent tax assessments, including those linked to RMC 5-2024. These practices have eroded investor confidence and, in some cases, prompted multinational companies to scale down or withdraw operations from the Philippines. Working alongside business chambers and embassy economic officers, the DOF took on board a range of proposed amendments and insights.
In a separate meeting with the customs commissioner, we raised operational issues on the ground—from X-ray delays to the need for modernization and clearer trade processes—which were met with genuine intent to build a more responsive and efficient trade environment.
We also engaged local governments, including leaders from Bataan and Iligan City, who have championed digital democracy initiatives to improve the ease of doing business outside major metropolitan centers.
Across these discussions, one truth became clear: reforms do not move forward unless both sides—public and private—sit down, listen, and identify where each can fill gaps. Opaque systems make it harder to do business, while open dialogue and collaboration between government and the private sector create solutions that benefit everyone.
Digitalization and modernization efforts, guided by practical private sector insights, are just a few examples of outcomes from these dialogues. When the government and business work hand in hand, the private sector serves as a partner in making reforms work on the ground, turning policy into tangible improvements in public service delivery, and ensuring that initiatives are practical, efficient, and sustainable.
In my welcome remarks at the forum, I emphasized the growing importance of transparency and accountability in public service. The MBC has long championed the passage of the freedom of information law. Through persistent lobbying in government meetings, participation in congressional and senatorial hearings, and contributions to technical working groups, we have helped ensure that reforms make government more open, participatory, and responsive to citizens. Its elevation as a Legislative Executive Development Advisory Council priority reflects both the public’s demand for accountability and the enduring impact of these advocacy efforts.
Drawing on my experience in leading the Public-Private Partnership Center, policies are indeed most effective when grounded in market realities–strengthening implementation and enhancing public confidence. As the secretariat for a constructive forum for the private sector, MBC’s discussions reinforce that government policies are most effective when systematically shaped by industry and business experience. Engaging consistently ensures reforms are grounded in economic realities, enhances implementation, and builds public trust.
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Cosette V. Canilao is the current president and CEO of Aboitiz InfraCapital, a member of MBC’s board of trustees, and former executive director of the Public-Private Partnership Center.
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Business Matters is a project of the Makati Business Club (makatibusinessclub@mbc.com.ph).
