Private businesses are being urged to deepen collaboration with one another, government, and civil society groups to better address national challenges and uplift Filipinos.
Speaking at the 55th Annual Membership Meeting and Foundation Day of the Philippines Business for Social Progress (PBSP), business leaders emphasized that the private sector has a vital role beyond profit-making and must uphold integrity while supporting development efforts, including government-led projects.
PBSP Chairman Manny V. Pangilinan underscored that companies can help address poverty by investing responsibly and embedding values in business practices.
“If there is anything, any legacy I would like to leave with our people, it is not so much how much profits or how much wealth our group created, but to prove that any Filipino can succeed by being honest,” Pangilinan said.
He added, “Are moral values important for corporations? For business? Absolutely. Absolutely. The longevity of certain organization groups in the Philippines, like the Ayalas, rest on very strong moral foundations of that family.”
PBSP Vice Chairman Manolito Tayag echoed the call, saying corporate social responsibility (CSR) should be integrated into a company’s core strategy rather than treated as mere charity.
“We should not look at CSR as a charity. I think CSR should be part of corporate strategy and that corporate strategy means that we should leverage the core strengths of that company for corporate citizenship,” Tayag said.
Meanwhile, UP School of Economics Professor Cielo Magno stressed that partnerships between business and government must also involve civil society to ensure transparency and accountability.
“Private sector and government partnership can facilitate things, but the reality is it also becomes a breeding space for corruption. Right? You can rent seek, easier to talk to government officials because of your private relationship,” Magno said.
She called for broader, more transparent collaborations that include non-government organizations, the academe, and other stakeholders.
As PBSP marks its 55th year, the organization highlighted decades of initiatives in education, the environment, and community development, reaffirming its mission as a business-led NGO committed to nation-building.