NEWS

By Iris Gonzales

Sabin M. Aboitiz

MANILA, Philippines — The Aboitiz Group is urging closer collaboration between the government and the private sector to mitigate the impact of the coronavirus disease (COVID-19) on the economy.

Aboitiz Equity Ventures president and chief executive officer Sabin Aboitiz said the economy could be shielded from further disruptions if the government and private sector focus on two areas of collaboration: keeping the economy moving and supporting the government’s COVID-19 information campaign.

“There is no question of the coronavirus’ impact on the economy and it is during these times when the government and private sector must work closer together – really together to effectively mitigate the crisis,” Aboitiz said.

In a briefing to financial analysts last March 11, Aboitiz said the implementation of both government- and private sector-led infrastructure projects could counter the economic impact posed by the COVID-19 crisis.

Finance Secretary Carlos Dominguez III said the government was going full blast on its Build Build Build program, which Aboitiz said was a welcome pronouncement.

“One sure way to keep the economy stimulated is the immediate implementation of the government’s infrastructure program – especially the projects of national significance,” Aboitiz said.

He said AEV is ready to invest in infrastructure.

Another way the government can further bolster the economy is by adopting policies that give preference to goods produced and services provided by Philippine manufacturers and companies, Aboitiz said.

He cited the government’s deferment of the collection of take-off, landing and parking fees of local airlines as an example of this.

“We fully support the government’s actions (on) landing fees to help local airlines and extending financial support to the local tourism industry – two sectors badly hit by the coronavirus,” Aboitiz said.

The Cebu-based conglomerate also proposed the sourcing of all the cement and steel requirements for infrastructure projects from Philippine manufacturers and hire more locals for projects in the provinces.

For its part, AEV is utilizing digital channels for business continuity and implementing proper hygiene measures and social distancing guidelines. It is also implementing workplace sanitation to ensure the safety of its employees.

“Our utmost concern is the health and safety of our team members,” Aboitiz said.

He said travel, quarantine, and hygiene measures based on the guidelines set by the Department of Health and the World Health Organization have been adopted.

Source: The Philippine Star