With inflation and interest rates impacting consumer and Government spending, the private sector must step up to propel the country's economy forward this year, according to businessman Manuel V. Pangilinan.

"We should do our part in raising the level of investments. The more we do, the more we invest, the more jobs we create, which I think will create a virtuous cycle of more and more growth for the country," Pangilinan said, citing investments in infrastructure, agriculture and food and tourism as examples.

"We should participate in trying to push the country's economic growth, as has been called for by the President," he added.

Pangilinan, who is chairman of PLDT and a member of the Private Sector Advisory Council (PSAC), also highlighted the importance of digitalization and investing in technology in driving the economy forward.

"Technology is driving changes really quickly. It is very competitive - you are embedded in a bigger innovative and challenging world. You have to keep learning," he said, citing as an example the tollways business as possibly benefitting from digitalization.

"We'd like to see a barrier-less system in the Philippines. The ridership experience is very important for our people, and it can be done by pivoting digitally," Pangilinan said.

Catch the exclusive interview with Chairman Manuel V. Pangilinan on Thought Leaders with Cathy Yang, on Tuesday, May 30, at 9:30 PM on One News on Cignal TV. Catch it too on Spotify, YouTube, Apple Podcasts and Google Podcasts. , at 9:30 PM on One News on Cignal TV. Catch it too on Spotify, YouTube, Apple Podcasts and Google Podcasts.