INVOKING the "power of we," the Institute of Corporate Directors Philippines (ICD Ph) described the critical synergy between the public and private sectors in advancing good governance to foster pro-poor and inclusive growth and fighting corruption and fraud.

In a press briefing to launch the Global Governance Summit on September 19 with the theme, "Leading the Future, Strengthening Unity," members of the ICD board of directors were in unison in advocating their message of "Doing things right and the right way."

"It takes two to tango. It is important for the private sector to practice corporate governance to facilitate growth. However, on the flip side, we also must have a strong partnership with the public sector for good public governance to create a positive political and economic environment that will attract investors, thus achieving inclusive growth," ICD Founder and Chairman Emeritus Jesus Estanislao, PhD, said.

ICD Vice Chairman Imelda Tiongson highlighted the importance of good corporate governance in building global trust and enhancing perceptions about the country.

"Good governance facilitates participatory, pro-poor policies and sound macroeconomic management. It ensures the transparent use of public funds, encourages growth of the private sector, promotes effective delivery of public services, and helps to establish the rule of law," Tiongson said.

ICD Ph President Pedro Maniego lauded the initiatives of the ICD founding members, adding that through their perseverance, the organization is now celebrating its silver anniversary and ready to address the country's corporate governance challenges but the country still lags behind its Southeast Asian neighbors in the corporate governance scorecard.

"Good governance creates a stable and transparent environment needed to attract investment that drives economic growth. It enhances a country's global reputation, building trust and confidence among international partners and citizens," he said.