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Opening remarks of Doris Magsaysay-Ho, ABAC Chairperson, at the Energy CEO Roundtable

EMM ABAC Chair

Energy CEO Roundtable

Cebu, Philippines

Doris Magsaysay-Ho

ABAC Chairperson

Opening Remarks

Good afternoon everyone. We are really, really happy that you’ve all made this trip to come to Cebu. For what we think will be a very exciting and important meeting tomorrow. First of all, before I start, maybe I could describe a little bit of what ABAC is. The APEC system, as you know, twenty one economies, the leaders meet in November each year. Throughout the year, we have a lot of meetings among the different ministries involved in APEC. And there is an official body called the ABAC, the APEC Business Advisory Council, which is comprised of three members appointed by their leaders to meet four times a year, to make recommendations to leaders. So, in a way, we are considered the voice of business. And, I like to just acknowledge that Jaime’s here. The other two members are Jaime Zobel and Tony Tan Caktiong and myself. So the three of us and Bill as well. And so we meet throughout the year for this in preparation for the leaders’ meeting in November.

Our theme this year is around inclusive developing policies, around inclusive, sustainable and resilient growth. You’ll see that the dialogue and the theme of the ministerial, the Energy Ministers, is basically a reflection of that. I think the theme of the Ministers’ meeting is sustainable and resilient energy for inclusive growth. Using those terms, very important terms as we build the region for the future. This year, this dialogue is a unique feature. It is something that’s actually was developed by ABAC Philippines and Bill has been taking a great lead on this. And the whole idea is to bring CEOs around the region to discuss really, basically what you see, to share with the energy ministers what you see are the most important things that energy companies can do to achieve those goals of energy resiliency and sustainability. But one of the things we’re really grateful to have this opportunity is that actually, it also should be an opportunity for everybody to think and discuss among ourselves what you also see are the opportunities that are coming up because the world is changing. To be able to provide better services to the people and also the challenges that keeps us awake at night. These are the parts of the discussion that have been really interesting and we saw that the ministers respond very well. [This is the 6th such meeting] For example, in the disaster resiliency meeting, a lot of discussions were about the fact that today, there is climate change, yes, but what really is the danger, what is the part that we should be concerned about this huge different, this huge urbanization trends with a lot of people that are affected. So that’s one. For the trade ministers’ meeting, we discussed about technology and how it plays in really bringing small businesses into global trade. In the SME meeting, we discussed about the need of governments to build ecosystems because the future innovation and technology-led economies will need different kinds of education. Let’s say your stem-type engineering, etc. And just the other day, we had the transport ministers’ meeting and the dialogues with them, and it was very, it was focused a little bit on among other things, on how regulations today have actually become almost not relevant to the trends of what is happening, let’s say shared economies or new business models where you have disruptive, different disruptive companies coming in disrupting the way things are done. So it’s this kinds of trends, this kinds of mega trends, this kind of experiences that you have in facing that, the kind of innovation that you’re looking for to achieve those goals of sustainability and inclusiveness.

So, it’s going to be exciting since we have such amazing group of people and I’d like to say thank you to Monchu Aboitiz and to Ed Chua who have both led this as co-chairs of this event. Maybe everybody knows him already but are you guys here? There you are [applause] Can you stand up, please? [Applause] So thank you so much for bringing this gathering together. And of course without forgetting the important key partner of ours this year is PWC who have led us such, ah, who have led us through very deep and thought-provoking thinking throughout this meetings. And without you it would not have been possible so thank you very much for that. So I passed this on now to Monchu.

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