'The Philippines can act as a catalyst for unity among ASEAN countries'
The Philippines is set to join the "Asian Tigers" club of fast-growing economies. How would you describe the current business mood in the Philippines?
The business climate is more upbeat now, especially in the telecom and the agricultural sectors. If the government continues to maintain fiscal reforms, then businesses can benefit under a better economic environment. Buying power should improve if economic benefits are able to flow downwards.
The Philippines is chairing the ASEAN community this year. What is the role of the Philippines and its potential in South East Asia?
ASEAN's strength is really about staying together as a group, the same way Europeans have done. There is no way you can stay on your own any more, even economic giants such as China realize the value of being a part of a larger whole. The Philippines can act as a catalyst for enhancing and maintaining unity and harmony among the ASEAN countries.
The Yuchengco Group of Companies is one of the leading companies in the Philippines and South East Asia. What are some of the major achievements of the company?
We have been able to maintain the lead position in this country for many years, despite tough competition, and we belong to the top ten of almost every industry we are in. This performance can be attributed to our commitment to pay a lot of attention to detail, as well as maintain personal relationships with clients, partners and our employees. This probably marks the difference between us and the other conglomerates.
As the investment climate in the country improves, we are looking at expansion by inviting new strategic partners to come in. We have to be tuned to the needs of foreign investors for them to feel confident to come and invest safely and profitably. We should be able to service certain selected niches in the market.
Can you elaborate on the projects you have in the education and construction sectors?
We have a lot of construction projects all over the country. We are opening a new educational institution in the South of Manila in June next year. We have also just opened a new high school. Our schools used to be mainly for engineering, but we have expanded them to include other courses such as business, IT, nursing, and accounting and hotel management
The Alfonso Yuchengco (AY) Foundation contributes greatly to Filipino society. What programs are currently being carried out by the foundation?
We build schoolhouses in poor areas and have medical missions all over the country. We also have a program that offers around five hundred scholarships every year to high school seniors. In Mindanao, we have just built a clinic, and will also be providing educational scholarships to deserving students.