“The state of the nation is sound,” this is how President Bongbong Marcos ended his first State of the Nation Address last 25 July 2022. After garnering an overwhelming vote of 31 million during the May 9 elections, the newly inaugurated President outlined his plans and vision for the post-pandemic future of the country. Despite the ongoing crises caused by COVID-19 and Russia-Ukraine conflict towards the economic standing of the Philippines, President Marcos confidently assured the public that his administration is committed to uplift and solve the current suffering endured by millions of Filipinos in their day-to-day lives. As he ended his address, he enumerated the priority legislations of his administration – most of them providing opportunities and challenges for the private sector. By baring his plans, targets and outlook, the Filipino nation should give the new leader a chance to prove himself and to treat this episode in our country’s history as an opportunity for vigilance and optimism.

During the height of the pandemic in 2020, the private sector has successfully demonstrated its potential to assist the Philippine government particularly in their projects to help impoverished households, displaced laborers, overworked healthcare workers, and the so-called “economic frontliners”. With the new administration already gearings its way to reform Philippine governance, the private sector now faces a great momentum to revisit and reassess its approach to respective government stakeholders.

The increasing importance of cordial government-business relations in facilitating a conducive environment for economic growth has compelled various several corporations in the country to institutionalize their internal government affairs team. Such trend is observed with the increase of job postings in LinkedIn, JobStreet and other related websites positions such as Government Relations Officer, Public Policy Manager, Policy and Regulation Head, and other related titles. As President Marcos bares his plans for Philippine economic recovery, this article also forwards a ten-point recommendation for the private sector to consider.

First, devise corporate social responsibility projects that will assist the government in addressing contemporary issues and crises such as but not limited to augmenting government support to address hunger, immunization, and delivering services to the lower classes and those living in far flung areas. Projects that are aligned with the Sustainable Development Goals (SDGs) or economic, social and governance (ESG) targets should be prioritized.

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