The Ayala Group is interested in registering several projects with the Board of Investments as inclusive businesses under the newly-approved Investments Priorities Plan, especially tourism-oriented activities that encourage community participation.
Ayala Corp. head of corporate strategy and development Paolo Borromeo said Ayala was aware of the IB initiative of the Department of Trade and Industry.
“We have not applied yet (with the BoI). But we will be interested to look at the Investment Priorities Plan and see where can we work with the government,” he said Wednesday during the briefing on Asean 2017 Inclusive Business Summit in Pasay City.
He cited the township project in Lio, Palawan province where the company is tapping the services of local residents to help create new livelihoods and prop up local economy.
The project is expected to generate new job opportunities for the local population, both direct and indirect, one of the criteria in promoting IB in the private sector.
“Our goal is to really engage the community, encourage more livelihood projects and training so we can bring more jobs especially to the people living there,” Borromeo said.
Other Ayala Group projects that may fall under IB include the development project in Iloilo, the Sicogon Island development and the Anvaya Resort in Bataan.
“We’ve always been interested in IB businesses while there are other business that are just part of our organization,” he added.
The Ayala Group was one of the Asean awardees for Inclusive Business for its approach to delivering affordable medicines to the Filipino people through its Generika Drugstore chain.
Borromeo noted Generika was a good example of inclusive business because of the affordable medicines sold, providing a means of livelihood to individuals, retirees and owners of medium scale enterprises.
The IB Summit served as the first high-level dialogue on IB in Asean. It aims to formally introduce and build the case for IB in Southeast Asia through exemplary models, instrumental government interventions, and regional support initiatives. The IB summit also stressed synergies between the private sector and the government.