Jaime Augusto Zobel de Ayala, chairman of Ayala Corporation, raised critical concerns regarding the Philippines' readiness to secure major foreign investments during the Makati Business Club's (MBC) 45th anniversary celebration on October 15, 2026.
Addressing an audience of influential corporate leaders at the Grand Hyatt Manila, JAZA advocated for a candid dialogue on the country's investment climate. He questioned whether the Philippines possesses the necessary talent, infrastructure, energy, regulatory framework, and institutional stability to attract long-term investments.
A Call for Unity Among Competitors
As global companies diversify their supply chains, we should think beyond which company, industrial park, or sector secures the next investment. A more important question to ask is whether the Philippines itself is winning.
Jaime Augusto Zobel de Ayala, Chairman, Ayala Corporation
Zobel emphasized the necessity for collaboration among rival companies to enhance the nation's attractiveness to potential investors. He acknowledged that while differing interests exist, there are foundational principles that can unite businesses toward common goals.
- Philippines has a young population and growing digital economy.
- Cooperation is essential in addressing challenges like education and energy costs.
Despite the country’s advantages, including a youthful workforce and a burgeoning digital sector, JAZA cautioned that these must translate into improved job opportunities and living standards. He pointed out the importance of accountability in infrastructure projects, hinting at concerns over corruption without directly mentioning it.
The event also highlighted worrying trends in foreign investment. Data from the central bank indicated a 23.9% drop in net foreign direct investment inflows, totaling $4.071 billion in the first seven months of 2026. This downturn was echoed by MBC members who noted a lower-than-expected turnout of foreign investors at recent conferences.
Discussions on emerging technologies, such as AI and the US-led Pax Silica initiative, offered a glimmer of hope. However, skepticism lingered regarding the actual benefits these technologies would bring to the local workforce and the environment.
As the Philippine economy faces significant challenges, the call for unity and strategic collaboration among industry leaders becomes increasingly critical to drive meaningful growth and attract the investments needed for sustainable development.