By Revin Mikhael D. Ochave, Reporter
PHILIPPINE companies should boost resiliency and realign their resources in the face of a global trade war that puts economic growth, jobs and wages at risk, according to corporate leaders.
Filinvest Development Corp. (FDC) has been strengthening its business by investing in its systems and people to manage risks, Francis Nathaniel C. Gotianun, a director at the listed property company, told the BusinessWorld Economic Forum in Taguig City on Thursday.
“There’s always been a lot of uncertainty in business,” he said. “There are always risks. But we take the lessons over the years and we’re just enhancing them.”
Mr. Gotianun, the senior vice-president at FDC hospitality unit Filinvest Hospitality Corp., said the group has taken a prudent approach to its growth plans.
“As the environment has changed, we too have changed by making sure that each of the businesses take into account in their planning all the macroeconomic and geopolitical factors,” he said.
“We’ve always been a company that has been willing to pivot and to change,” he added.
Monica L. Trajano, Aboitiz InfraCapital Economic Estates vice-president for commercial strategy, said resiliency among companies should be built for the long term.
“Resilience goes beyond roads and buildings,” she told the forum. “It’s about building systems that last, like investing in local talent, aligning education with the needs of industries and embedding sustainability in how we grow.”
“For us, resilience does not only mean being strong relative to shocks but also looking at long-term plans. When we say that a company is resilient, adaptable and inclusive, it means that a company is able to create value outside of itself,” she added.
Ms. Trajano said the resiliency and expansion plans should be data-driven and meet customers’ evolving needs.
“It’s really being data-driven,” she said. “Expansion is… really taking a look at what the smart moves are relative to what’s happening in our environment and understanding what our core purpose is.”
“Resiliency for us means that we invest in future-proofing, investing in sustainable infrastructure and workforce readiness,” she added.
Robert Dan J. Roces, an economist at SM Investments Corp., said one way to increase the resiliency of companies is by upskilling their employees.
“Future-proofing will be very important,” he told the forum. “That doesn’t necessarily include the infrastructure, but you also need upskilling. It’s very important to upskill people with the new processes. That actually forms part of the resilience package.”
Mr. Roces said resilience also future-proofs workers especially with increased artificial intelligence (AI) adoption.
“If you’re looking at a resilient company, you’re seeing one that’s not only surviving in terms of the numbers, but you’re also seeing people who aren’t leaving,” he said. “You’re looking for more talent to come into the company.”
Joseph Nino Young, GCash senior manager and partnerships and business development head, said the e-wallet could help Filipinos secure their finances amid economic uncertainties.
“In times of economic uncertainty, what people are looking for is security,” he said at the forum. He added that financial products such as savings, investments and insurance are tools that Filipinos could use to secure their finances.
“We want to intensify our educational [campaign] in terms of teaching people how to save, how to invest and how to grow their money,” he added.
