MANILA, Philippines - Hyundai Asia Resources Inc (HARI) president and chief executive Fe Perez-Agudo was named Woman Entrepreneur of the Year at the prestigious Ernst & Young Entrepreneur of the Year Philippines 2011 (EOYP) awards banquet held at the Rizal Ballroom of the Makati Shangri-la Hotel.
Agudo was cited by the awards body for her exemplary management of HARI in its ten years as a corporation, building the Hyundai brand in the Philippines, not just as a formidable player in Philippine auto industry, but also as an innovator in nation building through HARI’s engagement of its government and private partners in sustainable community building projects.
Agudo was hailed among the final six from 17 outstanding entrepreneurs representing 16 diverse established and emerging businesses.
According to the SGV Foundation organizing committee of the EOYP, headed by SGV & Co. Chairman and Managing Partner and SGV Foundation Inc. Chairman and President Cirilo P. Noel, the Woman Entrepreneur of the Year award is given to the woman entrepreneur who excelled in entrepreneurship, leadership and community development – making her a trailblazer in the industry. “The award is meant to promote the involvement of the rising number of women taking advantage of business opportunities within and outside the country,” he said.
Agudo was cited by the awards body for “blazing a trail in entrepreneurship, leadership and community development. Her marketing insights and strategic initiatives lifted Hyundai to become the third top-ranked automotive brand in the country in a span of less than ten years.”
The eight-man panel of judges this year, from respected Government, education and private establishments was chaired by former Philippine Prime Minister and Finance Secretary and now Chairman and President of C. Virata and Associates, Inc. Management Consultants, Cesar E. A. Virata.
The Entrepreneur of the Year program is the world’s most distinguished business award established by leading professional services firm Ernst & Young in the USA in 1986. SGV Foundation, Inc. started the program in the Philippines in 2003. The award is the first and only truly global award that celebrates individuals who build and lead successful, growing, and dynamic businesses through the bestowing of regional, national and global awards programs in more than 140 cities in over 50 countries.
Senator Ralph Recto is pushing for the passage of Senate Bill 2856, or the Electric, Hybrid, and Other Alternative Fuel Vehicles Incentives Act, which will provide incentives for the manufacture and importation of hybrid and alternative fuel vehicles.
Should this bill pass into law, it will exempt hybrid and alternative fuel vehicles from excise taxes and duties, as well as from the Metropolitan Manila Development Authority’s Unified Vehicle Volume Reduction Program, or number coding scheme.
Citing Land Transportation Office records, Recto said there were only 55 hybrid vehicles registered in the country – significantly fewer than the multi-million-peso, gas-guzzling Ferraris currently plying the country’s streets.
The passage of the bill is seen jacking up sales of hybrid vehicles and encouraging the importation of alternative fuel vehicles, such as the electric bus that Newgen will be bringing into the country.