Source: ABS-CBN News
SteelAsia Manufacturing Corporation Chairman, President, and CEO Benjamin Yao, who recently received the Entrepreneur of the Year Philippines (EOYP) 2019 title, is set to represent the country in the World Entrepreneur of the Year awards which will be held in Monte Carlo, Monaco in June 2020.
Yao was recognized for championing the steel industry in the Philippines. He was described as the consummate entrepreneur who embodies entrepreneurial values of leadership, team building, innovation, financial performance, and social transformation.
"What drives me is the hunger for new things. Ultimately, my vision is for the Philippines to have a steel industry much like our neighboring countries. Like many, I know its importance to a developing country like ours—it is the mother industry that can encourage the growth of diverse and robust manufacturing sectors," Yao said in an exclusive interview with ABS-CBN News Channel (ANC).
He was also given the Master Entrepreneur award for exemplifying sound management practices in critical areas of the company including finance, business development, marketing, human resources, and sales.
"Though we have come so far from where we were 25 years ago, we still have so much to do—to catch up to the rest of the world. Our country deserves it and that is what motivates me," he said.
As part of his vision to elevate the local steel industry and reduce dependence on importation, SteelAsia, the country's flagship steel firm and one of the largest rebar manufacturers in Asia, has established state-of-the-art facilities to manufacture beams, sheet piles, and other products that were previously imported.
It also provides world-class steel products and services by innovating and adapting to changing customer needs and continues to enrich communities while considering what is best for the environment. At present, Yao is working on a joint venture to bring in the first blast furnace to the country.
SteelAsia's annual production across the Philippines reaches over 2 million metric tons, serving over 2,000 customers, including big property development companies.
Watch this uplifting video of SteelAsia CEO Benjamin Yao where he talked about his inspirations for coming up with his now-thriving company and his message to his fellow entrepreneurs.
The Entrepreneur of the Year (EY) Awards was founded in the United States by professional services firm Ernst & Young in 1986 to recognize the achievements of successful and innovative entrepreneurs worldwide. In 2001, the program expanded to the World Entrepreneur of the Year awards and in 2003, the SGV Foundation Inc. established the Entrepreneur of the Year in the Philippines.