JAZA: Credibility key to growth

Businessman Jaime Augusto Zobel de Ayala, leader of the country’s oldest conglomerate Ayala Corp, said that credibility is key to sustainable growth. President Benigno Aquino III’s good governance campaign has helped regain credibility for the country, a major factor for investors deciding where to put their money. “We are one of the 3 largest growth countries in the world – there’s China and Indonesia, which is slightly ahead of us…I think we’ve come a long way in garnering people’s attention…The governance side has given us credibility. Credibility is important especially for long-term investments, not just the short ones,” Zobel said in an interview on #TalkThursday. He acknowledged that government’s partnership with the private sector is also needed for capital-intensive infrastructure projects. The economy has grown, with GDP hitting 6.3% in the 1^st quarter, the 2^nd highest in Asia, due in part to increased government spending.

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