After graduating with a degree in Economics from the Ateneo de Manila University in 1970, Sec. Lim went on to earn Master's degrees in Business Administration from the Harvard Graduate School of Business in 1973 and in Public Administration from the Kennedy School of Government, Harvard University, in 1990. Prior to his position as Executive Director of Makati Business Club, Sec. Lim was President/Director of Ten Knots Philippines, Inc. and Ten Knots Development Corporation, owner and developer of EI Nido Resorts.

Sec. Lim is actively involved in development work, most especially in the fields of ecotourism, corporate social responsibility, disaster response, and rural development. Other than currently being the Chairman of El Nido Foundation, he also serves as Chairman/President of Culion Foundation, and President of the Aldaba-Lim Foundation. One of the founders of El Nido Foundation, Sec. Lim has been the Foundation’s President since its establishment in 1994 until his appointment as Secretary of the Department of Tourism under the Aquino administration in June 2010. He served as Director of the Development Bank of the Philippines until 2016.