AYALA CORP. Chairman Jaime Augusto Zobel de Ayala said US companies need to consider the Philippines for their expansion projects, citing the readiness of the Philippine business ecosystem to enter into potential partnerships.
“The country is certainly ready to accept high levels of partnership and investment from our friends around the region, most especially the US,” Mr. Zobel de Ayala said in his keynote speech during a US-Philippines Society board meeting on Feb. 10.
Despite global volatility, Mr. Zobel de Ayala said the Philippines is one of the “most promising” economies in Asia, supported by strong macroeconomic fundamentals and a young, fast-growing population.
“We in the Philippine business community remain hopeful at the country’s prospects for growth, which have not dimmed despite a volatile global environment,” he said.
Mr. Zobel de Ayala said Ayala Corp. is investing in various growth areas like renewable energy through ACEN Corp., in digital infrastructure via Globe Telecom, Inc., in healthcare via Ayala Healthcare Holdings, Inc., and in education through iPeople, Inc.
The Philippine economy grew 5.6% in 2024, topping the 5.5% posted in 2023, but fell short of the government’s 6-6.5% target.
For 2025, the government is hoping to achieve 6-8% economic growth.
“Consistent 6% growth is certainly a respectable achievement but imagine what more can be achieved if we hit a continuous growth rate of 8% or more over a sustained period, which economists feel is possible if we align the government and private sectors,” Mr. Zobel de Ayala said.
Launched in 2012, the US-Philippines Society is a Washington-based independent non-profit organization.
Mr. Zobel de Ayala serves as co-chair of the US-Philippines Society, along with former Ambassador to the Philippines John D. Negroponte.
The US-Philippines Society met in Manila on Feb. 10 and 11. — Revin Mikhael D. Ochave