Governments alone cannot put an end to poverty. Sufficient economic development can't be achieved solely through official development assistance. The private sector has the best means to remedy our most pressing problems. Government redistribution of wealth from rich to poor would subsidize the poor, but would not create the necessary motors for self-perpetuating economic growth. The poor would still be with us.

It is imperative for Philippine business to craft a strategic Corporate Social Responsibility (CSR) program which is unique and relevant to our country's requirements. Corporations have a profound and positive influence on society. The challenge for strategic CSR must be to get a company to identify a specific set of societal problems that it believes in, and is best equipped to help resolve, and from which it can gain a competitive benefit."

Source:  : The Inquirer published at the ADB Institute e-newsline, August 7, 2007