WAXING OPTIMISTIC Ayala Corp. chair Jaime Augusto Zobel de Ayala at the recent US-Philippine Society board meeting. —CONTRIBUTED
Ayala Corp. chair Jaime Augusto Zobel de Ayala underscored the Philippines’ immense investment potential in his keynote address as co-chair of the US-Philippines Society at a board meeting held Feb. 10.
The US-Philippines Society convened in Manila on Feb. 10 to Feb. 11 to provide a platform for business leaders and policymakers to discuss deepening economic ties, with a shared commitment to fostering greater investment and cooperation between the two nations.
The board meeting marked the first private sector-led dialogue on US-Philippines engagement since the transition in Washington.
In his address, Zobel emphasized that despite global volatility, the Philippines remains one of Asia’s most promising economies, 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,” Zobel said.
With gross domestic product and per capita income having more than doubled over the last 15 years, the Philippine economy could reach $855 billion by 2035. Recent economic reforms have also made the country even more investment friendly. These include liberalized foreign investment policies in retail, infrastructure and strategic industries, as well as incentives for high-value sectors such as technology, renewable energy and advanced manufacturing.
Fueling PH growth momentum
As one of the country’s largest conglomerates, Ayala Corp.’s investments span sectors that are pivotal to economic expansion, including real estate, banking, telecommunications, energy, health care and electric vehicle infrastructure.
In his keynote, Zobel highlighted several high-growth areas where the group actively invests to support the country’s transformation:
- Renewable energy: Through ACEN, Ayala is a leading player in the region’s clean energy transition. The Philippines ranks as the second most attractive emerging market for renewables, and ACEN, a renewable energy company, has been capturing several opportunities here and in the Asian region focusing heavily on solar, wind, and battery power.
- Digital infrastructure: With the Philippines poised to become a major data center hub in Southeast Asia, Ayala, through Globe Telecom, is investing in digital infrastructure to support the growing demand for cloud computing and Aartificial intelligence-driven industries.
- Health care and education: Recognizing the need for stronger human capital, Ayala’s health care and education ventures, AC Health and iPeople (a partnership with the Yuchengco group), aim to improve access to quality medical services and learning institutions.
Growth trajectory
In closing, Zobel called on foreign investors to capitalze on the country’s growth trajectory.
“The country is certainly ready to accept high levels of partnerships and investments from our friends around the region, most especially the United States,” he said.
“Consistent 6 percent growth is certainly a respectable achievement but imagine what more can be achieved if we hit a continuous growth rate of 8 percent or more over a sustained period, which economists feel is possible if we align the government and private sectors.”
Society co-chair Ambassador John Negroponte led the US delegation, which included former Ambassadors Thomas C. Hubbard and Paul Jones
The American side is committed to promoting “win-win” outcomes on trade and investment, sustaining shared security interests, and strengthening people-to-people ties through educational and cultural exchanges.
Diplomatic leadership
The Society recognizes the effective diplomatic leadership of Ambassadors Jose Manuel Romualdez and MaryKay Carlson during this transitional period in Washington and sees bilateral relations strengthening in the period ahead.
The Society welcomed new membership from private sector and civic leaders in both countries. Their commitment and support will ensure the Society can carry out its mission in providing continuity in relations between the Philippines and the United States amid political transitions.
Headquartered in Washington and launched in 2012, the US–Philippines Society is an independent nonprofit, committed to working with official and private sector partners to advance mutual understanding and shared interests.