Makati Business Club

Makati Business Club
Name	Makati Business Club
Formation	1981
Type	Business association
Headquarters	Makati, Metro Manila
Region served	Philippines

Makati Business Club

The Makati Business Club is a Philippine business association based in Makati focused on policy advocacy, economic reform, and corporate leadership. Founded in 1981 during the administration of Ferdinand Marcos, it convenes executives from major corporations such as Ayala Corporation, SM Investments Corporation, and San Miguel Corporation to engage with public figures including Corazon Aquino, Fidel V. Ramos, and Benigno Aquino III. The organization has engaged with international institutions like the World Bank, the International Monetary Fund, and the Asian Development Bank while participating in forums with groups such as the Business Roundtable, the World Economic Forum, and the ASEAN Business Advisory Council.

History

The club was established in 1981 amid political and economic tensions involving Ferdinand Marcos and the Martial law (Philippines), with founders drawn from conglomerates including Ayala Corporation, GT Capital Holdings, and Jardine Matheson. During the 1986 People Power Revolution the organization interacted with leaders like Cory Aquino and members later advised transition efforts under Corazon Aquino and Fidel V. Ramos. In the 1990s the club produced position papers for administrations of Joseph Estrada and Gloria Macapagal Arroyo and engaged in privatization dialogues with entities such as PNOC and Philippine National Oil Company. Post-2000, it collaborated with international donors including the Open Society Foundations and participated in policy exchanges with Singapore Business Federation and Keidanren.

Mission and Activities

The club states objectives to promote private-sector-led development, fiscal reform, and regulatory transparency, aligning with concepts debated in forums like the World Trade Organization and the Trans-Pacific Partnership negotiations. It issues statements on tax reform referenced by commissions such as the Tariff Commission (Philippines) and advises on legislation debated in the House of Representatives of the Philippines and the Senate of the Philippines. Activities include roundtables with central officials from the Bangko Sentral ng Pilipinas, consultations with the Department of Finance (Philippines), and briefings with agencies such as the Securities and Exchange Commission (Philippines).

Policy Influence and Advocacy

Through policy papers and public campaigns, the club has advocated for measures including fiscal consolidation during periods involving the Asian financial crisis and infrastructure investment linked to programs like the Build! Build! Build initiative. It has lobbied on tax reform bills presented to the Bicameral Conference Committee and submitted recommendations to commissions such as the Tax Reform for Acceleration and Inclusion (TRAIN) working groups. The organization has engaged in energy debates involving National Power Corporation reforms and public-private partnership frameworks used by the Philippine Economic Zone Authority and the Toll Regulatory Board.

Leadership and Membership

Leadership comprises executives from major Philippine conglomerates and multinational affiliates including Ayala Corporation, SM Investments Corporation, Aboitiz Equity Ventures, Jollibee Foods Corporation, and San Miguel Corporation. Past chairs and conveners have included figures connected to institutions like Banco de Oro and Metropolitan Bank and Trust Company. The club has hosted speakers from international organizations such as the International Finance Corporation and dignitaries including former presidents Benigno Aquino III and Rodrigo Duterte in various dialogues. Membership spans boards of companies listed on the Philippine Stock Exchange.

Programs and Initiatives

The club runs policy research projects, corporate governance seminars, and leadership workshops akin to programs run by the Harvard Business School executive education and the Asian Institute of Management. It organizes sectoral briefings on finance with the Bangko Sentral ng Pilipinas, on infrastructure with the Department of Public Works and Highways, and on energy with the Department of Energy (Philippines). Initiatives have included anti-corruption advocacy aligning with recommendations from Transparency International and involvement in social development efforts similar to partnerships with the Philippine Red Cross and United Nations Development Programme missions in the Philippines.

Controversies and Criticisms

The club has faced criticism over perceived proximity to political elites and policy capture allegations comparable to debates involving the Chamber of Commerce of the United States and Confederation of British Industry in other jurisdictions. Critics have pointed to influence during privatization drives affecting entities like PNOC and to positions on tax reform that drew responses from labor groups such as the Kilusang Mayo Uno and civil society organizations including Bayan and Karapatan. Debates have also centered on transparency expectations akin to scrutiny applied to NGOs like Amnesty International and philanthropic partners such as the Bill & Melinda Gates Foundation when private interests intersect with public policy.

Category:Business organizations based in the Philippines