PH is 'next big thing in Asia'

By Catherine S. Valente

NEW YORK: The country's business group believes that the Philippines is "the next big thing in Asia," assuring American investors that the Philippine economy has a "massive" potential under the "inclusive and collaborative leadership" of President Ferdinand "Bongbong" Marcos Jr.

In his address at the New York Stock Exchange (NYSE), businessman Sabin Aboitiz, lead convenor of the President's Private Sector Advisory Council (PSAC), underscored Marcos' efforts "to assure you of the integrity, stability and solidarity of his administration and of the Philippine economic system... and to unlock the massive economic potential our country has to offer, with the help of good friends like you."

"So, we are here today to support our President and his genuine efforts to revitalize this relationship and remind you of our commitment. We support his efforts to assure you of the integrity, of the stability, and the solidarity of his administration and the Philippine economic system, which is not without wounds but neither without the determination to heal them," Aboitiz said.

Busy day President Ferdinand Marcos Jr. meets Boeing officials. Contributed photo

"We live in uncertain times. But in our corner of the world, the Philippines remains one of Asia's fastest growing economies," he added.

Aboitiz, president and chief executive officer (CEO) of the Aboitiz Equity Ventures, told American investors that with the pandemic now largely out of the way, "we're back on the fast track accelerating out of recovery mode and on to the promising possibilities of the future."

"Now more than ever, with the dawn of a new era of digital progress and an environment that has never been more enabling and conducive for business, the Philippines is right for investment," he said.

With the average Filipino being 23 years old, Aboitiz said that the country has a large pool of young, competent and reliable human resources.

"Our workforce is educated, English proficient, strongly customer-oriented, highly trainable and adaptable to different cultures," he said.

Being a critical entry point for over 600 million people in the Asean region, the Philippines, he added, "has easy access to key markets which is a gateway to the East Asian economies and is at the crossroads of international shipping lanes and airline routes."

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"Our numerous operating economic zones and IT parks around the country are fully equipped with support capabilities that make it easy for companies of any size and from any part of the world to set up shop and conduct business with convenience and effectivity," he said.

The country also has "bountiful and beautiful natural resources that provide investment opportunities in our agriculture and tourism industries."

"Our business process outsourcing, electronics, manufacturing, creative, maritime resources and export industries have similar potential with track records of success. And with a strong private public partnership, we are aggressively building the critical infrastructure needed to support all our industries and enable businesses to grow and thrive on a globally competitive scale," he said.

"But most importantly, we have a strong leader with a compelling vision and a political will to realize it. With a unified support of our Congress and the Filipino people, the new Marcos administration is taking a whole-of-government and -nation approach to deliver on its promise to transform our economy."

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He cited Marcos' success in getting "30 of our country's busiest CEOs to voluntarily work for him and for our country."

"This is why we work for him — because he listens to reason and gets things done. Because he has the humility to seek the help of those who know more in order to provide help to those who need more," Aboitiz said.

Among the high-level businessmen who joined Marcos in his US trip are Enrique Razon, chairman and president of International Container Terminal Services Inc.; Manuel V. Pangilinan, chairman and president of Metro Pacific Investments Corp.; Ramon S. Ang, president and CEO of San Miguel Corp.; Jaime Augusto Zobel de Ayala, chairman of Ayala Corp.; Lance Gokongwei, president and CEO of JG Summit Holdings; Hans Sy, director of SM Prime Holdings; and Doris Magsaysay-Ho, president and CEO of Magsaysay Group, among others.