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Aboitiz Affirms ABAC’s Policy Recommendations For Asia-Pacific Recovery

Aboitiz Affirms ABAC Policy Recommendations

The Aboitiz Group is one with the Asia-Pacific Economic Cooperation (APEC) Business Advisory Council Philippines (ABAC) in its call for the development of timely and holistic solutions to the complex challenges prevailing in the region.

Joining senior business leaders and policy makers at the third virtual meeting of ABAC on August 3, Aboitiz Group President and CEO Sabin M. Aboitiz expressed support for encouraging regional governments to work together even more closely in addressing the converging crises of the COVID-19 pandemic, faltering economies, and the impact of climate change.

“In the last 18 months, we have witnessed how strong partnerships and multilateral collaboration are keys to creating immediate, effective, and sustainable solutions against the pandemic. They are an extremely vital component towards inclusive economic recovery and we are optimistic that ABAC policy recommendations, which are putting emphasis on these, will be on the table as our APEC Ministers and leaders plot the next steps forward. We need to have a shared world mindset to make a real impact especially because 2.9 billion people in this region are counting on us to succeed,” Aboitiz explained, citing the ‘APEC in Charts 2020’ report by the APEC Policy Support Unit.

Aboitiz also reiterated calls by ABAC Chair Rachel Tauleilei for a reformed World Trade Organization that can be an enabler of the proposed Free Trade Area in the Asia-Pacific, and capitalize on the growing potential of the digital economy as the region begins to pivot towards recovery.

In support of ABAC’s stance on the importance of vaccination in jumpstarting economic recovery, the Aboitiz Group has rolled out its vaccination program and campaign to encourage its team members and their families to get innoculated. Moreover, the company was among the private organizations that signed on to procure COVID-19 vaccines for the country, with half being distributed to fortify the government’s vaccination rollout to its targeted priority sectors.

While no business was spared from the financial impact of the pandemic, its far-reaching economic consequences have burdened struggling small businesses, informal workers, and marginalized sectors.

“As a company with a regional footprint, our primary role is to make sure our vital services remain uninterrupted, especially for those whose lives depend on them. But no entity can do it alone, so we need support from all sectors to ensure that everyone has an equal opportunity to improve their lives,” Aboitiz explained. “The greatest lesson we take away from this ongoing pandemic is about our great responsibility as a business to the communities we serve.”

About Aboitiz Equity Ventures

Aboitiz Equity Ventures, Inc. (AEV) is the public holding company of the Aboitiz Group with major investments in power, banking and financial services, food, infrastructure, and land. Today, AEV is recognized as one of the best-managed companies in the Philippines and in the region, consistently cited for its commitment to good corporate governance and corporate social responsibility. With five generations of Aboitiz Group business success behind it, AEV continues to drive change for a better world by advancing business and communities.

To date, the Aboitiz Group’s total contribution to the national COVID-19 response effort has reached over P2.2 billion (excluding various payments waived, reduced, extended, or restructured to help customers cope with the impact of COVID-19), underscoring the group’s sustained campaign to help address the urgent needs of frontliners and affected communities nationwide.

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