Conglomerate Ayala Corp. is adopting a bullish outlook on the Philippines after the May presidential elections.
In an article published in the Philippine Daily Inquirer, Ayala Corp chairman and chief executive officer Jaime Augusto Zobel de Ayala said the country has no choice but to adapt to the globalizing economic trends to remain competitive.
“We tend to be optimists in the Ayala group, not pessimists. We believe in the country and we believe that irrespective of who gets chosen into a leadership position, the country will continue to progress,” Zobel said.
Ayala announced it plans to double their net income to P50 billion by 2020. Moreover, the 182-year old conglomerate is planning to beef up its presence in Southeast Asia through its largest subsidiaries Bank of the Philippine Islands, Ayala Land, Globe Telecom and Manila Water.
Further, Zobel urged the next administration to focus on attracting foreign capital and develop more infrastructure projects through the Public-Private Partnership Program (PPP).
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