US investors should invest in the Philippines as the country remains “one of Asia’s most promising economies” despite the prevailing global economic volatility, Ayala Corp. chairman Jaime Augusto Zobel de Ayala said.
The country’s gross domestic product (GDP) and per capita income have more than doubled over the last 15 years, the company said in a statement issued Tuesday, citing the economy’s potential to reach $855 billion by 2035.
“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,” the statement quoted Zobel de Ayala as saying in his remarks before the US-Philippines Society board meeting, which he co-chairs, held in Manila on February 10.
The Philippine business community remains hopeful about the country’s prospects for growth, which have not dimmed despite a volatile global environment, he said.
The country is “supported by strong macroeconomic fundamentals and a young, fast-growing population,” he added.
He cited high-growth areas such as renewable energy, digital infrastructure and health and education, in which Ayala Corp. is actively involved to support the country’s economic transformation.
Recent economic reforms have made the country even more investment friendly, including 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, Zobel de Ayala added.
The American side is committed to promoting “win-win” outcomes on trade and investment, and sustaining shared security interests and strengthening people-to-people ties through educational and cultural exchanges, the US-Philippines Society said in the same statement.
The Society is co-chaired by Ambassador John Negroponte, while former ambassadors Thomas Hubbard and Paul Jones form part of the US contingent.
The US-Philippines Society convened for two days to provide a platform for business leaders and policymakers on deepening economic ties in a shared commitment to foster greater investment and cooperation between the two nations.
The board meeting marked the first private sector-led dialogue on US-Philippines engagement since President Donald Trump’s administration sat in Washington on Jan 20, 2025.
The Society said it also recognized the effective diplomatic leadership of Ambassadors Jose Manuel “Babe” Romualdez and MaryKay Carlson during the transitional period in Washington and sees bilateral relations growing stronger in the near future.
Headquartered in Washington and launched in 2012, the Society is an independent non-profit, committed to working with official and private sector partners to advance mutual understanding and shared interests.
Ayala Corp.’s investment spans across various sectors such as real estate, banking, telecommunications, energy, healthcare and electric vehicle infrastructure.
“The country is certainly ready to accept high levels of partnerships and investments from our friends around the region, most especially the United States,” Zobel de Ayala said.
