Philippines will become Asia's "next big thing" before decade ends, billionaire Sabin Aboitiz predicts
The Philippines is poised to be Asia's “next big thing” before the decade ends, according to billionaire business magnate Sabin Aboitiz.
The CEO of Aboitiz Equity Ventures (AEV), one of the biggest establishments in the Southeast Asian nation told Global South World in an exclusive interview that he expected President Ferdinand Marcos Jr to end his term with the country fulfilling its potential as the most vibrant regional economy.
“We have a growing population, we have a very digital-savvy population … as the infrastructure, the roads are being built, so you're seeing infrastructure go in …I think before this president finishes, we will be the next big thing in Asia. I truly believe that,” Aboitiz said.
Aboitiz, 57, whose own businesses have been transformed into what he describes as a “techglomerate” spanning the fields of energy, transport, food and finance, said that by listening to business, the government was identifying and addressing issues which had previously held the country back.
He highlighted the work required to improve the infrastructure to support tourism, an area where his group has been contributing by developing Mactan Airport. Another important challenge is around the supply of clean and sustainable water, he noted. AEV’s lead project Apo Agua is an example of the kind of investments needed to secure the future prosperity of urban centres, he said.
"We have a great opportunity now. The success of the nation is really not the burden of the government but the burden of us, Filipinos. How we vote, how we act, how we support,” he concluded. “It lies on us.”
In the lengthy interview with Global South World, the businessman talked about his strategy to build a “techglomerate” that can leverage data across different units to benefit customers.
He also addressed some of the infrastructure challenges facing the Philippines including what his own companies are doing, for instance: managing water supplies to ensure sustainable and clean supplies for growing populations; improving airports to attract more tourists and ensure the kind of positive first impressions that will encourage them to return; balancing the need to supply reliable energy to power the economy with the necessity of reducing carbon emissions.
