NextGen Day

A Filipino business tycoon who heads the Private Sector Advisory Council (PSAC) told American investors on Tuesday that the Philippines is the “perfect” place to invest (Manila time).

According to PSAC convenor and Aboitiz Group CEO Sabin Aboitiz, who spoke before American business leaders in New York City, the Philippines is ready for investment. He noted that the nation is again on the “fast track” to recovering from the coronavirus disease 2019 (Covid-19) pandemic.

“The Philippines is ripe and open for investment now, more than ever, with the dawn of a new era of digital advancement and a climate that has never been more enabling and hospitable for business,” Aboitiz said in a speech given during the New York Stock Exchange’s annual meeting (NYSE).

President Ferdinand “Bongbong” Marcos Jr. encouraged more US investors to conduct business in the Philippines by assuring them that the nation has a “strong” and “resilient” economy in his keynote address at the NYSE Economic Forum.

Aboitiz supported Marcos and voiced faith in the ability of the existing leadership to transform the Philippines as promised.

Given that it continues to have one of Asia’s fastest-growing economies, he further assured the US business community that the nation has “promising possibilities of the future” and “huge economic potential.”

Aboitiz informed American investors and traders, “So, we are here today to support our President and his sincere attempts to revive this relationship and remind you of our commitment.

The Philippine economic system “is not without wounds, but neither is it without the determination to cure them,” he continued. “We support his efforts to assure you of the integrity, stability, and the solidarity of his administration and the Philippine economic system.”

“Powerful leader with an inspiring vision”

Additionally, Aboitiz reassured US investors that Marcos has the capacity to assemble the brightest minds in business and employ them to come up with workable answers to pressing issues.

The Marcos administration will construct the essential infrastructure required to assist all industries and enable enterprises to prosper on a globally competitive scale to deepen the private-public partnerships, Aboitiz stated.

The declaration was made by Aboitiz, who endorsed Marcos’ competency and called him “a strong leader with a compelling vision and a political will.”

The new Marcos administration is adopting a whole-of-government and -nation approach to fulfill its commitment to transform our economy, he remarked, with the unanimity of our Congress and the Filipino people.

“The business community as a whole supports this vision. We also hope that you will, as our steadfast allies and partners,” Aboitiz continued.

Asia’s “next big thing”

Given Marcos’s present-day decisive and action-oriented leadership style, Aboitiz also voiced optimism that the Philippines will become the “next big thing in Asia.”

And this kind of inclusive and cooperative leadership, he continued, “will make our economy the next big thing in Asia.”

According to Aboitiz, there are many young, talented, and English-speaking workers in the nation and more business chances for foreign investors.

He pointed out that the Philippines has many operational, economic zones and IT parks that are fully functional and capable of providing support, making it more straightforward for international businesses to conduct business conveniently.

He claimed that the nation’s abundant and stunning natural resources offer prospects for investment in the agriculture and tourism sectors.

According to Aboitiz, similar potential and track records can be seen in the business process outsourcing, electronics, manufacturing, creative, maritime resources, and export sectors of the Philippines.

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