“Over the past years, FEF has stood as the institution of reference on several policy issues touching on the process of reinventing the Philippine economy from an inward-looking to a trading one.” – Alexander R. Magno, former FEF President
Established in 1996, FEF was founded by prominent scholars and technocrats concerned over the lack of public appreciation for a free market economy, stimulated by the great oil price debate at the time. The driving force behind FEF is the Council of Fellows led by former Prime Minister Cesar Virata and former finance secretary Roberto de Ocampo.
The founding fellows of FEF recognized the need for an institution that would take the road less traveled to defend economically-sound policies against populist tendencies and political patronage.
It was through a grant from the Philippine Business for Social Progress (PBSP), the largest corporate-led social development foundation in the country, that FEF was able to start its operations.
Presently composed of highly visible and respected leaders in the government, business and academe, FEF continues to advise government on important policy issues, generate public support for its advocacies, assist in the implementation of economic development-oriented laws and programs, and capacitate government agencies and LGUs in executing economic reforms.