Aboitiz Group chief joins Apec Business Advisory Council
ABOITIZ Group President and Chief Executive Officer Sabin M. Aboitiz was recently appointed as a member of the Apec Business Advisory Council (ABAC), joining two other previous appointees to represent the Philippines.
Aboitiz’s appointment letter was signed by President Duterte last May 15.
ABAC was created in 1995 by Asia-pacific Economic Cooperation (Apec) Leaders to provide advice on the implementation of the Osaka Action Agenda. It currently serves as the voice of the business sector, specifically providing information on business-related issues or providing the business perspective on specific areas of cooperation.
“It is an honor for me to be appointed as a member of the Apec Business Advisory Council, and represent the Philippines. The Aboitiz Group, through its 100-percent acquisition of Gold Coin Management Holdings, has significantly expanded our regional footprint and strengthened our position as a key player in Asiapacific,” said Aboitiz.
“The Aboitiz Group’s participation in ABAC is consistent with our brand promise to advance business and communities—uplifting livelihood, exchanging products and services across the Asia-pacific region.”
The Aboitiz Group with businesses in power, banking and financial services, food, real estate, and infrastructure, is actively involved in industries that provide the basic needs of consumers, set the foundations for nation-building, and grow alongside the Philippine economy.
Alsons Consolidated Chairman and President Tomas Alcantara was appointed ABAC Philippines chair while Globe Capital Partners Chairman Joanne de Asis was also appointed as a member. Aboitiz, together with Alcantara and de Asis are the country members of ABAC.
The three appointees will represent a range of business sectors including small and medium enterprises.
This year, ABAC adopted the theme “Integration, Innovation, and Inclusion” and will focus on the following priorities: accelerating trade and investment liberalization, strengthening Apec’s commitment to a rules-based multilateral trading system, promoting trade and services competitiveness and facilitation; digital transformation, inclusive economic growth, building resilient and sustainable communities, and driving a seamless and comprehensively connected Asia-pacific.
In response to the challenges posed by the Covid-19 crisis, ABAC Philippines has drafted recommendations that address its identified work programs on supporting micro, small and medium enterprises, ensuring supply chain resilience, promoting markets for goods and services, and strengthening digital connectivity.
ABAC Philippines believes that in adopting various fiscal policies, the government can support the resumption of work and production, which would consequently ensure the smooth functioning of the global supply chain. It also recommended strengthening broadband infrastructure, facilitating cross border data flows, and the application of digitally enabled technology to support pandemic response and recovery.
ABAC Philippines also recommended the removal of export restrictions and bans on essential goods, reduction of non-tariff barriers including the movement of essential workers, and the development of a regional framework strategy on economic and structural responses and future pandemic planning.