Jaime Augusto Zobel de Ayala, the influential chairman of Ayala Corporation, expressed a strong belief in the Philippines’ potential for growth and readiness for significant investments and partnerships. Speaking at a recent board meeting of the US-Philippines Society (USPS) in Makati City, Zobel de Ayala, often referred to as JAZA, encouraged businesses to tap into the investment opportunities available in the country, which he believes are promising despite global economic uncertainties.
JAZA highlighted that the Philippine business community remains hopeful about the nation’s economic future. He pointed out that the country’s economy could potentially grow to USD855 billion within the next decade, provided there are reforms in foreign investment policies, particularly in retail, infrastructure, and strategic industries. He also advocated for incentives in high-value sectors such as technology, renewable energy, and advanced manufacturing.
The tycoon emphasized that achieving a consistent growth rate of 6 percent is commendable, but he envisions even greater achievements if the country could sustain an 8 percent growth rate. He believes this is achievable through a synergy between government and private sectors.
Zobel de Ayala also identified key sectors that could drive robust economic growth, including renewable energy, digital transformation, healthcare, and education, areas where the Ayala Group has already made significant investments.
He concluded by stating that the Philippines is ready to welcome high levels of partnerships and investments, particularly from the United States and other regional partners. The US-Philippines Society, based in Washington D.C., is a non-profit organization that works to enhance mutual understanding and interests between Americans and Filipinos.