Sabin Aboitiz sees bright 2023
Aboitiz highlighted the Philippines’ bountiful natural resources, adaptable and skilled workforce, tourism, and relatively young population.
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Aboitiz highlighted the Philippines’ bountiful natural resources, adaptable and skilled workforce, tourism, and relatively young population.
Aboitiz Group president and CEO Sabin Aboitiz has waxed optimistic about the Philippines' business outlook for next year.
Aboitiz, a member of the APEC Business Advisory Council and convenor of the Private Sector Advisory Council, cited President Ferdinand Marcos Jr.'s efforts to entice foreign investors to come into the country.
The businessman issued his bright prognosis during the 55th Annual Dialogues Summit last week.
"With both ABAC and PSAC, I am very happy much progress has been made both in cooperating with our regional neighbors and in addressing the economic challenges of our own country," Aboitiz said.
Consensus
"As we begin to wrap up another tumultuous year for the world in general, we remain optimistic about the business outlook for the Philippines next year," he added.
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Aboitiz was joined by other captains of industries in the summit held via video-teleconferencing. Other attendees were Magsaysay Group CEO Doris Magsaysay-Ho, Frabelle Group CEO Francisco Tiu Laurel, Jr., and JG Summit CEO Lance Gokongwei.
They sort of reached a consensus on the future and cited various reasons why the Philippines may be considered the "next best thing in Asia."
In his video message, Aboitiz highlighted the Philippines' bountiful natural resources, adaptable and skilled workforce, tourism, and relatively young population.
"Two critical points will be the deciding factors to look out for: The reputation of our business leaders and the political will of our Chief Executive. We are all in this together," Aboitiz said.
"If both look out for each other to ensure there is integrity, transparency, quality, and urgency in all the work that we do together, and in front of the eyes of our people and of the world, then we can finally remove the bureaucracies, the inefficiencies, the incompetencies, the inequalities, and the injustices that are the roadblock standing in between what the Philippines has been and what the Philippines very well will be," he pointed out.
Pleasantly surprising
The "Make it Happen in the Philippines" forum's keynote speech was given by Aboitiz Group director and PBEC member Miguel Aboitiz.
PBEC CEO Michael Walsh discussed the importance of aligning businesses and the government in tackling the important issues and challenges facing industries.
"The new government is pleasantly surprising many, both in and out of the Philippines," Miguel Aboitiz said. "The determination of the government is to use the private sector as a way to get things moving."
"They've (Marcos administration) taken a pragmatic approach to say, 'I'll do it with the private sector because I can do the greatest number of projects at the same time and finish it, or get them started, before the next administration," he added.
He then painted a picture of dynamic developments in the Philippines in the energy and telecom sectors, the big infrastructure projects, as well as the banking and real estate sectors.
