Aboitiz Group partners with DOF, BTr in restarting PH economy with Premyo Bonds 2
The Aboitiz Group underscored the importance of public-private sector collaboration in jumpstarting the country’s pandemic-strained economy as it pledged support to the Premyo Bonds 2 of the Department of Finance and the Bureau of the Treasury (BTr).
Premyo Bonds 2 is part of the government’s savings mobilization program to make government securities available to retail investors. Proceeds from the Premyo Bonds 2 will be used to fund the country’s COVID-19 response and boost the Philippine economy.
“We in the Aboitiz Group have always seen our purpose as to advance business and communities. We believe in succeeding together. This COVID-19 crisis highlighted the need for the government and the private sector to work together to hurdle the present challenges, to get our economic growth back on track,” said Sabin M. Aboitiz, Aboitiz Group President and Chief Executive Officer (CEO) during the “Premyo Bonds 2’s” virtual launch last November 11, 2020.
To show Aboitiz’s confidence in and commitment to the Premyo Bonds 2, its banking and financial services unit UnionBank is one of the Premyo Bonds 2’s partner banks where the bonds may be bought physically or go online using the Bonds.PH mobile application.
“This is an important partnership: neither side cannot work in isolation or in a bubble. Government provides the policy environment so businesses can run, thrive and grow. The role of business is to see to it they run in an efficient and sustainable manner, provide meaningful employment and revenues to national and local government, create opportunities for others, especially the small- and medium-scale enterprises,” Aboitiz added.
In addition to UnionBank being a Premyo Bonds 2 partner bank, the Aboitiz Group has also pledged P3 million for the bonds’ quarterly raffle draws, to further encourage people to buy Premyo bonds. There is a mini-raffle for investments made between P500 to P20,000. Every quarter, 20 investors can win P50,000.
This is viewed to be the easiest and most affordable way to invest in the Philippines – the minimum investment is P500 and it earns interest quarterly.
“Premyo Bonds 2 has bigger and better prizes in store for grand winners, thanks to the generosity of the partner institutions who share our aspirations for Premyo Bonds 2 to be an enabler for productive ventures and job creation,” said National Treasurer Rosalia V. De Leon, referring to the BTr’s partners which include the Aboitiz Group.
The Aboitiz Group strongly supports the empowerment of micro, small, and medium enterprises, and public-private sector collaboration.
Last November 5, the Aboitiz Group joined the private sector and heeded the call of the United Nations Global Compact to mobilize support for MSMEs worldwide amid COVID-19 by helping achieve the “10-Year, 10-Point Business Ambition for SDGs in the Philippines (10 in 10),” a joint commitment to take action toward supporting MSMEs.
The Aboitiz Group was part of the “Prosperity” expert group meeting presentation, where MSME financing and government stimulus, supply/value chain, business continuity management, diversification and market access, and digital transformation were discussed.
Last September, Sabin M. Aboitiz also joined over 1,000 CEOs from more than 100 countries in signing the UNGC Statement for Renewed Global Cooperation, urging further collaboration with the public and private sectors in the face of the ongoing COVID-19 pandemic.