Aboitiz property arm helps MEZ II locators recoup losses from virus
REAL-ESTATE firm Aboitiz Land Inc. is helping its locators rise from quarantine losses as part of its commitment to cooperate in government’s effort to rebuild the nation grappling from the economic impact of coronavirus disease 2019 (Covid-19) pandemic.
the company, together with the Mactan Cebu International Airport Authority (MCIAA), is extending a 50-percent discount on rent covering a five-month period.
With such assistance, it hopes to provide timely relief to its industrial locators inside the Mactan Economic Zone II (MEZ II) as they suffer from a drop in sales and unexpected expenses just to keep their operations under community quarantine guidelines.
Manufacturing, among other businesses, has been forced to adapt to production demand changes, labor support challenges and supply chain ecosystem constraints due to this unprecedented health emergency and the state-imposed lockdowns.
“We share our locator partners’ concerns and we remain committed to helping them survive and recover swiftly from this ongoing health and economic crisis,” said Eduardo Aboitiz, head of Aboitizland Industrial Business Unit.
“We believe that this assistance, along with the support we have extended over the past 25 years, will be reciprocated by our locators through their continued commitment to the Philippines and to the people of Cebu,” he added.
the top executive noted that both the public and private sectors need to work together in these trying times to help keep the economy afloat and continue to give employment to those depending on the industrial zone for livelihood.
MEZ II employs 14,000 skilled workers in 49 multinational companies belonging in light to medium industries that include precision instruments, medical equipment, communication and electronics, automotive supplies, apparel, and furniture.
Incepted in 1995 in partnership with MCIAA, the 63-hectare Philippine Economic Zone Authority-registered MEZ II in Lapu-lapu City highlights Cebu in the global export market.
the industrial zone is strategically located in a mixed-use estate, which also houses a commercial corporate building that complements the retail and recreational lifestyle elements of the Pueblo Verde shopping complex, which has over 70 retail stores, services and restaurants, as well as a transit hub.