Poll cites private sector role in economic recovery

MANILA, Philippines — For most Filipinos, the private sector has a significant role to play in sustaining the country’s economic recovery from the impact of the COVID-19 pandemic.

A Pulse Asia survey commissioned by Stratbase ADR Institute found that 86 percent of the respondents agree that the private sector “plays a crucial role in accelerating economic growth.”

Some 46 percent of the respondents strongly agreed with the statement, while 41 percent said they somewhat agree. Only three percent disagreed, while 11 percent cannot say whether they agree or not.

The survey was conducted from Sept. 17 to 21, with the results released by Stratbase only on Thursday.

The same poll also found that 89 percent of respondents agreed that the government and the private sector should engage in partnership in order to sustain the country’s economic recovery.

Sixty-two percent strongly agreed with the statement, while 27 percent said they somewhat agreed. Only one percent disagreed, while the remaining 10 percent said they cannot say whether they agree or not.

The survey respondents were also asked what they think private investors can do to boost the Philippine economy.

Some 69 percent of respondents identified creating jobs as one of three things that the private sector can contribute to that end.

It was followed by helping uplift Filipinos out of poverty at 65 percent; expanding livelihood opportunities at 49 percent and improving health care systems at 37 percent.

Others on the list were improving quality of access to digital services at 27 percent; managing natural resources and taking care of the environment at 19 percent; developing public infrastructure at 16 percent and improving the quality of education at 12 percent.

“The sentiments of the people as reflected in this latest survey is a strong impetus for the administration of President Marcos Jr. to strengthen developmental engagements and further empower the private sector to drive economic growth and strengthen competitiveness,” said Stratbase Group founder and CEO Victor Andres Manhit.

“A sustained, committed partnership between the government and the private sector will be a game-changer in our recovery and realize inclusive prosperity for our people,” it added.

Manhit noted that more Filipinos now highlight the role of the private sector in creating more jobs.

A similar survey conducted last December showed that only 58 percent of the respondents identified job creation as one of the three things that the private sector can contribute to the country.

“This means that in a span of nine months, more Filipinos acknowledged that the private sector is an indispensable partner in creating jobs and hence pulling people out of poverty,” said Manhit.

He said the Marcos administration should aggressively pursue public-private collaboration, especially given how Filipinos value the potential of a partnership with the private sector.

“Our government leaders must act on this great potential by creating the most conducive environment that would attract the right investments and strategic partnerships through good governance, stable regulatory policies and a keen attention to upgrading the skills of the Filipino workforce,” added Manhit.

The latest survey had 1,200 respondents and an error margin of plus or minus 2.8 percent.