Ayala Group to Support the PH Pandemic Recovery

The oldest conglomerate in the Philippines, Ayala Corp., has expressed its support for the Marcos administration’s plans on the country’s road to recovery from the pandemic.

Ayala Corp President and CEO Fernando Zobel de Ayala have mentioned that Ayala Corp. is ready to aid the Philippines in moving forward, two years after the start of the pandemic.

This statement comes after President Ferdinand “Bongbong” Marcos Jr.’s first State of the Nation Address (SONA) in which he detailed his plans for the country’s recovery.

“We join the private sector in commending President Marcos’ comprehensive and actionable plans, particularly his administration’s focus on promoting the ease of doing business, attracting much-needed foreign investments, and encouraging private-public partnerships in key infrastructure projects,”  says Zobel de Ayala.

President Marcos has said that under his administration, they will push through with pursuing public-private partnerships.

“President Marcos’ commitment to bolstering private-public partnerships in the country is a testament to his administration’s willingness to work with the business community in addressing various pain points in the country,”  Zobel de Ayala adds.

“This year, the group intends to deploy P285 billion in combined CAPEX and investments – 25 percent higher than 2021 – to contribute to catalyzing our country’s economic recovery and growth. And we are grateful that our priority investments for this year are very much aligned with the President’s agenda,” he says.

Zobel de Ayala also says that the Ayala Group will carry on making investments across sectors.

Globe Telecom of Ayala intends to spend ₱89 billion this year to upgrade and expand its data infrastructure, fiber broadband, and 5G, which supports President Marcos’ digitization plans.

Source: Philstar