Davos, Switzerland: Entrepreneur Sabin Aboitez, chair of the Marcos government’s private sector advisory council, believes the Philippines is the “next big thing in Asia” given the country’s rosy economic prospects and reforms being embarked upon.
Abu Sitiz, President and Chief Executive Officer (CEO) of Abu Al-Mowaten Group, made the statement as he praised the president’s vision for the country.
Like I always say, I think you know [the] The Philippines is really going to be the next big thing in Asia. We are very excited to be working with the government today because we see that they really value, you know, the private sector,” he said during an interview on the sidelines of the World Economic Forum (WEF) annual meeting.
“Digitization, for example. You know the government cannot do digitization alone. It needs the private sector,” he added.
“When you have this dual kind of respect for each other, it excites people and the president’s belief in the private sector becomes very strong,” Abu Muwatani continued.
Given the huge amount of money the country needs for ambitious infrastructure projects such as roads, ports and airports, he said the private sector is willing to seek help abroad.
“[F]Or we are in the private sector, we can partner with the best in the world…to be able to solve problems and not help but for structural change [things] So that it works for future generations and not only … for three months or one year.
He continued, “That’s a big part of the president’s thought process…, right? It changed the structure. It’s got to hurt us a little bit for the structure to change in the long run.”
“If it’s easy, then the result is easy too, right? If it’s hard, then the result is also in the long run. And I think that’s part of the excitement that we all have. It’s doing things for the long term.”
In a separate interview, the CEO of Alliance Global Inc. Kevin Tan said Marcos succeeded in the Philippines bid. Tan added that the president’s participation in the WEF meeting sent a very strong signal that the Philippines is open for business.
“I think President Marcos has been very effective in showcasing the Philippines… [and] It also shows that this government is open for business and open to partnerships with other governments … and also to partnerships with [the] private sector … “.
“On the political front, I think… my point is that the President has really shown that the Philippines is really a friend to everybody, we don’t necessarily lean west or east; it’s very balanced where we’re stationed.”
Tan and Abowitz were among the seven tycoons to join Marcos in Davos, the others being Ramon Ang of San Miguel Corp., Jaime Augusto Zobel de Ayala of Ayala Corp. and Lance Jocongui of JG Summit Holdings Inc. Enrique Razon Jr. and Teresa Sy-Coson of SM Investment Corp.