I stand at the intersection of two worlds—business and government. Since 2010, I’ve been an entrepreneur. By God’s grace, my team and I have built our ventures from the ground up. Over the years, I’ve had the privilege of meeting thousands of business owners, both here and abroad. Many of these encounters were over a simple cup of coffee, but the conversations often turned deep, especially when politics and governance came into the picture.
A common thread in these discussions? A deep skepticism toward government. Many business owners I’ve spoken with believe the system is inherently corrupt. Some even feel that there is no such thing as a truly clean politician.
On the flip side, when I entered the School of Government at Ateneo and later worked within the public sector, I encountered a different world—one filled with dedicated civil servants, government officials, and civic leaders passionate about national transformation. Yet in that space, I noticed another pattern. Many of them view the business sector with suspicion, often equating capitalism with exploitation. For some, the idea of blending business and public service is unthinkable. Even the word business triggers discomfort, and in some policy circles, it’s almost a red flag.
Of course, I recognize these are not universal views. Not all government officials distrust business, and not all entrepreneurs are cynical about politics. But from my experience, the divide is real. Business and the state often fail to see eye to eye.
In an increasingly interconnected world shaped by economic volatility, public health challenges, climate change, and rapid technological progress, the urgency for meaningful collaboration between government and business has never been greater.
So, how do we bridge this gap? How do we define the boundaries while nurturing synergy between public and private sectors?
Can there be a balanced, respectful partnership—where government ensures fairness and accountability, while business drives innovation and economic growth?
This article explores the evolving relationship between business and government. It highlights key laws and research that support strategic partnerships and presents an inspiring vision for a future where collaboration fuels inclusive progress, sustainable growth, and nation-building.
The Separation of Business and State
Much like the enduring debate on the separation of church and state, the idea of separating business and state in the Philippines is grounded in a fundamental respect for human rights, free will, and democratic governance. This principle isn’t just a matter of legal design. It reflects a broader understanding of how societies function best when power is balanced and when institutions are held accountable.
The theoretical foundation for this separation lies in both political philosophy and economic thought. It aims to uphold public interest, prevent abuses of power, and sustain a competitive, dynamic economy. Over time, this division has been codified in constitutional laws and economic policies that aim to ensure transparency, prevent conflicts of interest, and promote innovation.
This division is grounded in both political philosophy and economic theory, and it serves several key purposes:
1. Preventing Corruption and Conflicts of Interest
By maintaining a clear boundary between private enterprise and government authority, societies aim to reduce the risk of undue influence over policymaking. The World Bank identifies “state capture” as a major threat to governance, wherein powerful private interests manipulate public decision-making to their advantage, often leading to regulatory loopholes and compromised institutions.1
2. Preserving Free Markets
Limiting government interference to essential regulation allows markets to function efficiently while protecting consumer rights and maintaining competition. The Organisation for Economic Co-operation and Development (OECD) emphasizes that “a healthy market economy depends on minimal yet effective government intervention that fosters innovation and efficiency.”2
3. Protecting Democratic Processes
Democratic governance depends on the trust that elected officials act in the public’s interest, not in service of corporate gain. Excessive business influence can distort public priorities, as seen in studies linking campaign financing and lobbying to policy outcomes in countries like the United States.3
4. Safeguarding Competition
Preventing monopolies and crony capitalism is essential for maintaining equal opportunity in business. Research by the International Monetary Fund (IMF) indicates that cronyism, where political connections influence business success, can result in lower productivity and increased inequality.4
Political and economic frameworks such as the separation of powers and free enterprise capitalism have played critical roles in ensuring transparency, accountability, and innovation. For example, the U.S. Constitution embodies the principle of limited government, which inherently restrains its involvement in the private sector, creating room for entrepreneurial freedom and market-driven innovation.
Similarly, the 1987 Philippine Constitution recognizes the importance of regulation without undermining free enterprise. Article XII, Section 1 declares:
“[Section 1] The goals of the national economy are a more equitable distribution of opportunities, income, and wealth; a sustained increase in the amount of goods and services produced by the nation for the benefit of the people; and an expanding productivity as the key to raising the quality of life for all, especially the underprivileged. [Section 19] The State shall regulate or prohibit monopolies when the public interest so requires. No combinations in restraint of trade or unfair competition shall be allowed.”5
These foundational principles reflect the global consensus that while government and business must interact, they must do so with clearly defined roles to serve society’s long-term interests.
Business and Government Are Interdependent
While the principle of separation between business and state remains foundational in democratic societies, the reality is that business and government are deeply interdependent, especially in the context of modern economic systems.
Governments play a critical role in shaping the environment in which businesses operate. They establish legal frameworks, enforce contracts, protect intellectual and physical property rights, maintain political and economic stability, and build essential infrastructure. These functions are fundamental for building investor confidence, reducing transaction costs, and encouraging long-term economic growth. 6
At the same time, businesses make significant contributions to achieving public policy objectives. They generate employment, drive innovation, produce goods and services, and stimulate wealth creation. The private sector also serves as a major source of tax revenue, which funds public services and social programs.7 In emerging economies, for instance, small and medium-sized enterprises (SMEs) account for 70% of total employment and 40–50% of GDP on average.8
This interdependence has given rise to an increasing number of public-private partnerships (PPPs) and collaborative governance models worldwide. PPPs combine the strengths of both sectors: the regulatory authority, public mandate, and long-term perspective of governments, with the innovation, efficiency, agility, and capital investment capacity of the private sector.
According to the World Bank, effective public-private partnerships (PPPs) have been instrumental in expanding access to infrastructure, particularly in sectors such as transportation, energy, water, and education. Between 2010 and 2020, developing countries alone received over $1.5 trillion in investment commitments through Public-Private Partnership (PPP) projects.9
Moreover, the Organisation for Economic Co-operation and Development (OECD) emphasizes that cross-sector collaboration is crucial in addressing today’s most complex global challenges, including climate change, public health, digital transformation, and inclusive economic development. These problems require solutions that neither the state nor the private sector can deliver alone.10
The success of any nation increasingly depends on how well these two sectors work together, not as adversaries, but as co-creators of social and economic value.
Legal Grounds on Business-Government Collaboration
Research by global organizations, including the World Economic Forum (WEF) and the OECD, as well as leading universities, continues to emphasize the importance of partnerships between governments and businesses in addressing significant societal challenges, such as infrastructure development, public health, climate action, and digital transformation. These collaborations are not just helpful; they’re essential in today’s interconnected world, where resources are limited. 11
For these partnerships to work effectively and responsibly, they must be supported by strong laws and policies that protect the public interest.
1. Public-Private Partnerships (PPPs)
Public-Private Partnerships (PPPs) are one of the most established ways for the public and private sectors to work together. In the Philippines, the Build-Operate-Transfer (BOT) Law (Republic Act No. 6957, amended by RA 7718) laid the foundation for private investment in public infrastructure like highways, airports, and water systems.12 Under this law, private companies can design, finance, build, operate, and maintain public facilities while the government retains ownership.
To modernize and strengthen these partnerships, the PPP Code of the Philippines (Republic Act No. 11966) was passed in 2023. It introduced clearer rules, better transparency, faster processes, and stronger safeguards. With this, the Philippines became one of the regional leaders in PPP legislation.13
2. Corporate Social Responsibility (CSR) and Sustainability
Governments around the world encourage companies to act responsibly and align their work with broader social and environmental goals. In the UK, for example, the Companies Act of 2006, Section 172, requires directors to consider how their decisions affect the community, environment, and long-term business sustainability.14
In the Philippines, CSR isn’t mandated by a single law, but it is actively promoted through policies and programs. Organizations like the Philippine Business for Social Progress (PBSP), along with agencies like the Securities and Exchange Commission (SEC) and the Department of Trade and Industry (DTI), push for responsible business practices.15 Meanwhile, ESG (Environmental, Social, and Governance) standards and sustainability reporting are gaining momentum, especially as more companies engage in green finance and impact investing.16
3. Antitrust and Anti-Corruption Laws: Safeguarding Fairness and Integrity
To keep partnerships ethical and competitive, governments enforce laws that prevent monopolies and corruption.
In the Philippines, the Philippine Competition Act (RA 10667) empowers the Philippine Competition Commission (PCC) to stop anti-competitive practices such as cartels, abuse of market power, and unfair mergers.17 This ensures that partnerships do not harm consumers or smaller businesses.
At the same time, anti-corruption laws protect public resources and trust. The Anti-Graft and Corrupt Practices Act (RA 3019) and the Code of Conduct for Public Officials (RA 6713) provide legal tools to combat bribery and unethical behavior.18 Internationally, laws like the U.S. Foreign Corrupt Practices Act (FCPA) set global standards by penalizing companies that engage in bribery overseas.19
Together, these laws promote fairness, accountability, and transparency, which are the core elements that enable public-private collaborations to succeed in the long term.
A Vision for the Future: Collaboration, Not Separation
As someone who has worked in both the halls of government and the world of business, I’ve seen firsthand how powerful it can be when the public and private sectors move beyond silos and work together with a shared purpose. The idea that business and government must always stay apart is a misinterpretation of what democracy truly needs. Separation of powers ensures accountability, but collaboration fuels progress.
Challenges such as poverty, climate change, digital divides, disaster response, and inclusive economic growth can no longer be addressed by a single sector alone. What we need is not less interaction, but more meaningful, values-driven engagement between those who lead our nations and those who build our industries.
The Philippines has made significant progress. We have the legal frameworks, the talent, and a rising generation of leaders in both public service and entrepreneurship. What we now need is courage on both sides to collaborate with clarity, humility, and a sense of nationhood.
Let us redefine the relationship between business and government, not as competitors, but as co-builders of a better future.
The government provides direction. Business brings momentum. Together, they build a future that no single sector can achieve on its own.
This is a call to action to my fellow business leaders: Let us bring our creativity, efficiency, and investment into nation-building, not just profit-making. And to public servants: Open the doors for collaboration with integrity and courage.
If we adopt a mindset that prioritizes cooperation over control, transparency over secrecy, and shared outcomes over individual interests, we can create a country where policies are more effective, businesses are more responsible, and lives are truly transformed.
In the end, the real measure of success is not just how much we grow, but how many lives we uplift together.
ABOUT THE AUTHOR
Marlon is the Editor-in-Chief and Managing Director of Molmisa Point, leading its vision as a premier digital platform for leadership, business, and personal growth. A thriving leadership and management consultant, corporate trainer, and best-selling book author in the Philippines, he is also the founder of Mzone Training and Chairman of the Molmisa Group. Marlon holds a Master’s in Public Management from Ateneo de Manila University - School of Government and a postgraduate certificate from the Asian Institute of Management. He also co-founded the Business and Management Consultants Association of the Philippines.
Footnotes
1 Anderson,James; Hellman,Joel; Jones,Geraint Paul; Moore,Bill; Muller,Helga W.; Pradhan,Sanjay; Ryterman,Randi Susan; Sutch,M. Helen. Anticorruption in transition : a contribution to the policy debate (English). Anticorruption in transition Washington, D.C. : The World Bank. http://documents.worldbank.org/curated/en/825161468029662026
2 OECD (2019). The Role of Competition in Promoting Dynamic Markets and Economic Growth. https://www.oecd.org/daf/competition/
3 Gilens, M., & Page, B. I. (2014). Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens. Perspectives on Politics, 12(3), 564-581.
4 IMF (2016). The Political Economy of Crony Capitalism. https://www.imf.org/external/pubs/ft/wp/2016/wp16157.pdf
6 Acemoglu, D., & Robinson, J. A. (2012). Why Nations Fail: The Origins of Power, Prosperity, and Poverty. Crown Publishing Group.
7 International Monetary Fund. (2019). Fiscal Monitor: How to Mitigate Climate Change. https://www.imf.org/en/Publications/FM
8 World Bank. (2022). Small and Medium Enterprises (SMEs) Finance. https://www.worldbank.org/en/topic/smefinance
9 World Bank. (2021). Private Participation in Infrastructure (PPI) Database. https://ppi.worldbank.org
10 OECD. (2020). Enhancing the Contributions of SMEs in a Global and Digitalised Economy. https://www.oecd.org/industry/C-MIN-2017-8-EN.pdf
11 World Economic Forum. (2022). Partnering for Impact: Government and Business Collaborations to Drive Sustainable Development.
12 Republic Act No. 6957 (1990), as amended by RA 7718 (1994), An Act Authorizing the Financing, Construction, Operation and Maintenance of Infrastructure Projects by the Private Sector.
13 Republic Act No. 11966 (2023), The Public-Private Partnership (PPP) Code of the Philippines.
14 UK Companies Act 2006, Section 172.
15 Philippine Business for Social Progress (PBSP), https://www.pbsp.org.ph/
16 Securities and Exchange Commission (2022). Guidelines on Sustainability Reporting for Publicly Listed Companies.
17 Republic Act No. 10667 (2015), The Philippine Competition Act.
18 Republic Act No. 3019 (1960), The Anti-Graft and Corrupt Practices Act; Republic Act No. 6713 (1989), Code of Conduct and Ethical Standards for Public Officials and Employees.
19 U.S. Department of Justice. (2020). Foreign Corrupt Practices Act Resource Guide, 2nd Edition.
20 Public-Private Partnership Center Philippines. (2019). Project Brief: Mactan-Cebu International Airport. https://ppp.gov.ph/ppp_projects/mactan-cebu-international-airport-passenger-terminal-building
21 Philippine Business for Social Progress. (2020). Impact Report. https://www.pbsp.org.ph
22 Department of Science and Technology (DOST). (2017). Hybrid Electric Road Train Project. https://www.dost.gov.ph
23 PPP Center Philippines. (2021). Automatic Fare Collection System. https://ppp.gov.ph/ppp_projects/afcs/
24 Asian Development Bank. Philippines: Public–Private Partnerships by Local Government Units. Manila: ADB, 2016. https://www.adb.org/publications/philippines-ppp-local-government-units
The Two Worlds: Business and Government
I stand at the intersection of two worlds—business and government. Since 2010, I’ve been an entrepreneur. By God’s grace, my team and I have built our ventures from the ground up. Over the years, I’ve had the privilege of meeting thousands of business owners, both here and abroad. Many of these encounters were over a simple cup of coffee, but the conversations often turned deep, especially when politics and governance came into the picture.
A common thread in these discussions? A deep skepticism toward government. Many business owners I’ve spoken with believe the system is inherently corrupt. Some even feel that there is no such thing as a truly clean politician.
On the flip side, when I entered the School of Government at Ateneo and later worked within the public sector, I encountered a different world—one filled with dedicated civil servants, government officials, and civic leaders passionate about national transformation. Yet in that space, I noticed another pattern. Many of them view the business sector with suspicion, often equating capitalism with exploitation. For some, the idea of blending business and public service is unthinkable. Even the word business triggers discomfort, and in some policy circles, it’s almost a red flag.
Of course, I recognize these are not universal views. Not all government officials distrust business, and not all entrepreneurs are cynical about politics. But from my experience, the divide is real. Business and the state often fail to see eye to eye.
In an increasingly interconnected world shaped by economic volatility, public health challenges, climate change, and rapid technological progress, the urgency for meaningful collaboration between government and business has never been greater.
So, how do we bridge this gap? How do we define the boundaries while nurturing synergy between public and private sectors?
Can there be a balanced, respectful partnership—where government ensures fairness and accountability, while business drives innovation and economic growth?
This article explores the evolving relationship between business and government. It highlights key laws and research that support strategic partnerships and presents an inspiring vision for a future where collaboration fuels inclusive progress, sustainable growth, and nation-building.
The Separation of Business and State
Much like the enduring debate on the separation of church and state, the idea of separating business and state in the Philippines is grounded in a fundamental respect for human rights, free will, and democratic governance. This principle isn’t just a matter of legal design. It reflects a broader understanding of how societies function best when power is balanced and when institutions are held accountable.
The theoretical foundation for this separation lies in both political philosophy and economic thought. It aims to uphold public interest, prevent abuses of power, and sustain a competitive, dynamic economy. Over time, this division has been codified in constitutional laws and economic policies that aim to ensure transparency, prevent conflicts of interest, and promote innovation.
This division is grounded in both political philosophy and economic theory, and it serves several key purposes:
1. Preventing Corruption and Conflicts of Interest
By maintaining a clear boundary between private enterprise and government authority, societies aim to reduce the risk of undue influence over policymaking. The World Bank identifies “state capture” as a major threat to governance, wherein powerful private interests manipulate public decision-making to their advantage, often leading to regulatory loopholes and compromised institutions.1
2. Preserving Free Markets
Limiting government interference to essential regulation allows markets to function efficiently while protecting consumer rights and maintaining competition. The Organisation for Economic Co-operation and Development (OECD) emphasizes that “a healthy market economy depends on minimal yet effective government intervention that fosters innovation and efficiency.”2
3. Protecting Democratic Processes
Democratic governance depends on the trust that elected officials act in the public’s interest, not in service of corporate gain. Excessive business influence can distort public priorities, as seen in studies linking campaign financing and lobbying to policy outcomes in countries like the United States.3
4. Safeguarding Competition
Preventing monopolies and crony capitalism is essential for maintaining equal opportunity in business. Research by the International Monetary Fund (IMF) indicates that cronyism, where political connections influence business success, can result in lower productivity and increased inequality.4
Political and economic frameworks such as the separation of powers and free enterprise capitalism have played critical roles in ensuring transparency, accountability, and innovation. For example, the U.S. Constitution embodies the principle of limited government, which inherently restrains its involvement in the private sector, creating room for entrepreneurial freedom and market-driven innovation.
Similarly, the 1987 Philippine Constitution recognizes the importance of regulation without undermining free enterprise. Article XII, Section 1 declares:
These foundational principles reflect the global consensus that while government and business must interact, they must do so with clearly defined roles to serve society’s long-term interests.
Business and Government Are Interdependent
While the principle of separation between business and state remains foundational in democratic societies, the reality is that business and government are deeply interdependent, especially in the context of modern economic systems.
Governments play a critical role in shaping the environment in which businesses operate. They establish legal frameworks, enforce contracts, protect intellectual and physical property rights, maintain political and economic stability, and build essential infrastructure. These functions are fundamental for building investor confidence, reducing transaction costs, and encouraging long-term economic growth. 6
At the same time, businesses make significant contributions to achieving public policy objectives. They generate employment, drive innovation, produce goods and services, and stimulate wealth creation. The private sector also serves as a major source of tax revenue, which funds public services and social programs.7 In emerging economies, for instance, small and medium-sized enterprises (SMEs) account for 70% of total employment and 40–50% of GDP on average.8
This interdependence has given rise to an increasing number of public-private partnerships (PPPs) and collaborative governance models worldwide. PPPs combine the strengths of both sectors: the regulatory authority, public mandate, and long-term perspective of governments, with the innovation, efficiency, agility, and capital investment capacity of the private sector.
According to the World Bank, effective public-private partnerships (PPPs) have been instrumental in expanding access to infrastructure, particularly in sectors such as transportation, energy, water, and education. Between 2010 and 2020, developing countries alone received over $1.5 trillion in investment commitments through Public-Private Partnership (PPP) projects.9
Moreover, the Organisation for Economic Co-operation and Development (OECD) emphasizes that cross-sector collaboration is crucial in addressing today’s most complex global challenges, including climate change, public health, digital transformation, and inclusive economic development. These problems require solutions that neither the state nor the private sector can deliver alone.10
The success of any nation increasingly depends on how well these two sectors work together, not as adversaries, but as co-creators of social and economic value.
Legal Grounds on Business-Government Collaboration
Research by global organizations, including the World Economic Forum (WEF) and the OECD, as well as leading universities, continues to emphasize the importance of partnerships between governments and businesses in addressing significant societal challenges, such as infrastructure development, public health, climate action, and digital transformation. These collaborations are not just helpful; they’re essential in today’s interconnected world, where resources are limited. 11
For these partnerships to work effectively and responsibly, they must be supported by strong laws and policies that protect the public interest.
1. Public-Private Partnerships (PPPs)
Public-Private Partnerships (PPPs) are one of the most established ways for the public and private sectors to work together. In the Philippines, the Build-Operate-Transfer (BOT) Law (Republic Act No. 6957, amended by RA 7718) laid the foundation for private investment in public infrastructure like highways, airports, and water systems.12 Under this law, private companies can design, finance, build, operate, and maintain public facilities while the government retains ownership.
To modernize and strengthen these partnerships, the PPP Code of the Philippines (Republic Act No. 11966) was passed in 2023. It introduced clearer rules, better transparency, faster processes, and stronger safeguards. With this, the Philippines became one of the regional leaders in PPP legislation.13
2. Corporate Social Responsibility (CSR) and Sustainability
Governments around the world encourage companies to act responsibly and align their work with broader social and environmental goals. In the UK, for example, the Companies Act of 2006, Section 172, requires directors to consider how their decisions affect the community, environment, and long-term business sustainability.14
In the Philippines, CSR isn’t mandated by a single law, but it is actively promoted through policies and programs. Organizations like the Philippine Business for Social Progress (PBSP), along with agencies like the Securities and Exchange Commission (SEC) and the Department of Trade and Industry (DTI), push for responsible business practices.15 Meanwhile, ESG (Environmental, Social, and Governance) standards and sustainability reporting are gaining momentum, especially as more companies engage in green finance and impact investing.16
3. Antitrust and Anti-Corruption Laws: Safeguarding Fairness and Integrity
To keep partnerships ethical and competitive, governments enforce laws that prevent monopolies and corruption.
In the Philippines, the Philippine Competition Act (RA 10667) empowers the Philippine Competition Commission (PCC) to stop anti-competitive practices such as cartels, abuse of market power, and unfair mergers.17 This ensures that partnerships do not harm consumers or smaller businesses.
At the same time, anti-corruption laws protect public resources and trust. The Anti-Graft and Corrupt Practices Act (RA 3019) and the Code of Conduct for Public Officials (RA 6713) provide legal tools to combat bribery and unethical behavior.18 Internationally, laws like the U.S. Foreign Corrupt Practices Act (FCPA) set global standards by penalizing companies that engage in bribery overseas.19
Together, these laws promote fairness, accountability, and transparency, which are the core elements that enable public-private collaborations to succeed in the long term.
A Vision for the Future: Collaboration, Not Separation
As someone who has worked in both the halls of government and the world of business, I’ve seen firsthand how powerful it can be when the public and private sectors move beyond silos and work together with a shared purpose. The idea that business and government must always stay apart is a misinterpretation of what democracy truly needs. Separation of powers ensures accountability, but collaboration fuels progress.
Challenges such as poverty, climate change, digital divides, disaster response, and inclusive economic growth can no longer be addressed by a single sector alone. What we need is not less interaction, but more meaningful, values-driven engagement between those who lead our nations and those who build our industries.
The Philippines has made significant progress. We have the legal frameworks, the talent, and a rising generation of leaders in both public service and entrepreneurship. What we now need is courage on both sides to collaborate with clarity, humility, and a sense of nationhood.
Let us redefine the relationship between business and government, not as competitors, but as co-builders of a better future.
This is a call to action to my fellow business leaders: Let us bring our creativity, efficiency, and investment into nation-building, not just profit-making. And to public servants: Open the doors for collaboration with integrity and courage.
If we adopt a mindset that prioritizes cooperation over control, transparency over secrecy, and shared outcomes over individual interests, we can create a country where policies are more effective, businesses are more responsible, and lives are truly transformed.
In the end, the real measure of success is not just how much we grow, but how many lives we uplift together.
Marlon is the Editor-in-Chief and Managing Director of Molmisa Point, leading its vision as a premier digital platform for leadership, business, and personal growth. A thriving leadership and management consultant, corporate trainer, and best-selling book author in the Philippines, he is also the founder of Mzone Training and Chairman of the Molmisa Group. Marlon holds a Master’s in Public Management from Ateneo de Manila University - School of Government and a postgraduate certificate from the Asian Institute of Management. He also co-founded the Business and Management Consultants Association of the Philippines.
Footnotes
1 Anderson,James; Hellman,Joel; Jones,Geraint Paul; Moore,Bill; Muller,Helga W.; Pradhan,Sanjay; Ryterman,Randi Susan; Sutch,M. Helen. Anticorruption in transition : a contribution to the policy debate (English). Anticorruption in transition Washington, D.C. : The World Bank. http://documents.worldbank.org/curated/en/825161468029662026
2 OECD (2019). The Role of Competition in Promoting Dynamic Markets and Economic Growth. https://www.oecd.org/daf/competition/
3 Gilens, M., & Page, B. I. (2014). Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens. Perspectives on Politics, 12(3), 564-581.
4 IMF (2016). The Political Economy of Crony Capitalism. https://www.imf.org/external/pubs/ft/wp/2016/wp16157.pdf
5 Philippine Constitution (1987). Article XII, Section 1. https://www.officialgazette.gov.ph/constitutions/1987-constitution/
6 Acemoglu, D., & Robinson, J. A. (2012). Why Nations Fail: The Origins of Power, Prosperity, and Poverty. Crown Publishing Group.
7 International Monetary Fund. (2019). Fiscal Monitor: How to Mitigate Climate Change. https://www.imf.org/en/Publications/FM
8 World Bank. (2022). Small and Medium Enterprises (SMEs) Finance. https://www.worldbank.org/en/topic/smefinance
9 World Bank. (2021). Private Participation in Infrastructure (PPI) Database. https://ppi.worldbank.org
10 OECD. (2020). Enhancing the Contributions of SMEs in a Global and Digitalised Economy. https://www.oecd.org/industry/C-MIN-2017-8-EN.pdf
11 World Economic Forum. (2022). Partnering for Impact: Government and Business Collaborations to Drive Sustainable Development.
12 Republic Act No. 6957 (1990), as amended by RA 7718 (1994), An Act Authorizing the Financing, Construction, Operation and Maintenance of Infrastructure Projects by the Private Sector.
13 Republic Act No. 11966 (2023), The Public-Private Partnership (PPP) Code of the Philippines.
14 UK Companies Act 2006, Section 172.
15 Philippine Business for Social Progress (PBSP), https://www.pbsp.org.ph/
16 Securities and Exchange Commission (2022). Guidelines on Sustainability Reporting for Publicly Listed Companies.
17 Republic Act No. 10667 (2015), The Philippine Competition Act.
18 Republic Act No. 3019 (1960), The Anti-Graft and Corrupt Practices Act; Republic Act No. 6713 (1989), Code of Conduct and Ethical Standards for Public Officials and Employees.
19 U.S. Department of Justice. (2020). Foreign Corrupt Practices Act Resource Guide, 2nd Edition.
20 Public-Private Partnership Center Philippines. (2019). Project Brief: Mactan-Cebu International Airport. https://ppp.gov.ph/ppp_projects/mactan-cebu-international-airport-passenger-terminal-building
21 Philippine Business for Social Progress. (2020). Impact Report. https://www.pbsp.org.ph
22 Department of Science and Technology (DOST). (2017). Hybrid Electric Road Train Project. https://www.dost.gov.ph
23 PPP Center Philippines. (2021). Automatic Fare Collection System. https://ppp.gov.ph/ppp_projects/afcs/
24 Asian Development Bank. Philippines: Public–Private Partnerships by Local Government Units. Manila: ADB, 2016. https://www.adb.org/publications/philippines-ppp-local-government-units
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