PSAC, Millenium meeting boosts US-Phl economic ties
A significant gathering took place recently, underscoring the shared commitment to enhancing economic ties between the United States and the Philippines. Millennium Challenge Corporation (MCC) CEO Alice Albright, in a meeting with the strategic convenor of the Private Sector Advisory Council (PSAC) Sabin M. Aboitiz and PSAC leads Henry Aguda and Irwin Lee, reaffirmed their dedication to fostering economic growth and poverty reduction through collaborative endeavors between governments and the private sector.
The MCC, recognized for its time-limited grants aimed at promoting economic growth and institutional strengthening in partner countries, expressed a keen interest in deepening engagement with both the Philippine government and the private sector. CEO Alice Albright emphasized the significance of comprehending and addressing the primary challenges faced by the nation, marking the beginning of an earnest listening process.
Sabin M. Aboitiz, lead convenor of the PSAC and Aboitiz Group president and CEO, echoed the sentiment of collaboration and consultation as vital elements for progress. President Marcos’ establishment of the PSAC reflects a proactive approach to directly engage with the private sector across diverse areas, including Agriculture, Digital Infrastructure, Healthcare, Infrastructure, Jobs, and Tourism.
“This ongoing dialogue with the private sector underscores the government’s commitment to actively listen and address critical needs,” remarked Aboitiz, emphasizing the importance of sustained engagement throughout the year.
During the meeting, MCC Philippine director Sarah Olmstead stressed the significance of working closely with Philippine counterparts to identify key policy areas for support. Olmstead highlighted the collaborative nature of their objectives, aiming to empower local leadership in driving impactful change.
Accompanying Albright was US Embassy Deputy Chief of Mission Y. Robert Ewing, who emphasized
the substantial economic partnership between the US and the Philippines. Ewing underlined the
need to redirect attention towards the economic fundamentals of this relationship, emphasizing
the significance of corporate sector engagements in alignment with President Marcos’ reform agenda.