Zobel urges business unity as Philippines faces global headwinds

Insider Spotlight

• Jaime Augusto Zobel de Ayala urged business leaders to compete vigorously while collaborating on national priorities.
• He said the Philippines’ development path will be shaped by geopolitics, AI, climate change, inequality and investment readiness.
• He pushed the Makati Business Club to move from dialogue to coordinated action on human capital, energy, infrastructure and governance.

The chair of the Philippines’ oldest conglomerate called on business leaders to work together on issues that shape the country’s competitiveness, saying private enterprise and national progress remain deeply linked as the Philippines enters a more uncertain global environment.

Speaking at the Makati Business Club’s 45th anniversary on Oct. 15, Jaime Augusto Zobel de Ayala said MBC’s founding purpose remains relevant because business leaders must sometimes find a common voice beyond commercial interests.

Why it matters

“Our founders understood something that remains true forty-five years later, and will likely remain relevant well into the future: that the success of private enterprise and the progress of the country are ultimately inseparable. Business cannot thrive over the long term in a society that is not itself thriving,” he said.

Zobel, who also serves as MBC’s vice chair, cited several forces testing institutions at the same time, including major-power rivalry, fragmented trade and supply chains, artificial intelligence, climate change, inequality and weak access to basic services.

He said the Philippines still has strong advantages, including a young population, around 75 million working-age Filipinos, its position in ASEAN, a digital economy nearing 10 percent of GDP, and manufacturing exports led by electronics.

Between the lines

But said these strengths do not guarantee success. Regional integration must help Philippine companies and workers compete, while the energy and digital transitions must lead to better productivity, jobs and lives.

He also stressed that infrastructure must be built well “with every project and peso fully accounted for,” and that demographics will become a dividend only if the country invests in people.

Zobel said the Ayala conglomerate which he oversees has begun framing this through “social infrastructure,” or systems that help people and communities thrive, especially in healthcare, education, livelihood and sustainable everyday living.

What’s next

Zobel said MBC can serve as a platform for more focused collaboration among business, government, academe, civil society and international partners.

He said the group could convene working groups on human capital, AI readiness, energy, infrastructure and supply-chain resilience, while maintaining its work on governance, transparency, accountability and rule of law.

“I hope that we continue to compete vigorously in our commercial pursuits, collaborate purposefully where it matters, and remain partners in forging a country that we deserve and can be proud of,” Zobel said.

— Edited by Daxim L. Lucas