Zobel: Aquino reforms can last beyond 2016

Posted at 05/22/14 9:31 AM


MANILA, Philippines - The head of the Ayala group says the Philippines and its business leaders need to redouble their efforts to be internationally competitive, especially in ASEAN.

Speaking at the welcome reception for the World Economic Forum on East Asia, Jaime Augusto Zobel de Ayala said this week's events can be a milestone for the country.

"There is something about critical mass, there is something about psychology, something about momentum that when people gather in one place, the feeling is good. It does have a geometric effect on the way people look at a country, the way people share information, that concentration of dialogue and feeling, has it's own effect on the way a country is perceived... Let's enjoy the moment," Zobel told ANC.

Zobel also believes reforms that have been put in place by the Aquino administration won't be brushed aside by whoever is elected president in 2016.

"I think President Aquino has been a reformist president. He has set a new set of goals with respect to governance. I think that is expected. I think his popularity remains very high. The economy is doing well. He's found the formula to create trust in our economy and our people. Why would anyone want to turn the clock back on a winning formula," he said.

ANC Headstart, May 22, 2014