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Manila Bulletin devider Philippines devider National devider Marcos hopeful to gain McKinsey's insights for PH economic transformation

Marcos hopeful to gain McKinsey's insights for PH economic transformation

Published Aug 15, 2024 07:39 am

President Marcos is hopeful that he can gain “insights” from international consulting firm McKinsey & Company on how to transform the Philippines’ economy.
 

PBBM_McKinsey2.jpgCourtesy call of McKinsey & Company, led by Global Managing Partner Bob Sternfels, to President Ferdinand ‘Bongbong’ Marcos Jr. at Malacañan Palace on Thursday, Aug. 15, 2024. (Photo from the Presidential Communications Office)

 

Marcos said this after a meeting with McKinsey & Company Global Managing Partner Bob Sternfel, who paid a courtesy call at Malacañan Palace on Thursday, Aug. 15.
 

“Hopefully... that we will be able to gain something from your insights on the transformation of the Philippine economy,” he added.
 

“That's the process that we are presently undertaking,” the President shared.
 

McKinsey & Company is an American multinational strategy and management consulting firm offering services to corporations and governments.
 

On its website, it said that it partners with clients “to help them innovate more sustainably, achieve lasting gains in performance, and build workforces that will thrive for this generation and the next.”
 

In its blog in March 2024, McKinsey & Company noted that “the Philippine economy was more resilient than expected in 2023” and that “current projections indicate that it could again achieve healthy growth in 2024.”
 

It said that the Philippines “fastest growing economy across Southeast Asia” by the end of 2023, posting a growth rate of 5.6 percent, which was just shy of the government's target of 6 to 7 percent.
 

Joining Marcos and Sternfel were McKinsey & Company Philippine Managing Partner Jon Canto, Southeast Asia Managing Partner Albert Chang, House Speaker Martin Romualdez, and Executive Secretary Lucas Bersamin.
 

Also there were Department of Information Communications and Technology (DICT) Secretary Ivan John Uy, Department of Energy (DOE) Secretary Raphael Lotilla, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan, Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go, and Department of Trade and Industry (DTI) Acting Secretary Ma. Cristina Aldeguer-Roque.

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