CHIEF executive officers (CEOs) in the Philippines are worried that their companies won't survive the next 10 years unless steps are taken to reinvent their businesses, the local unit of accounting giant PricewaterhouseCoopers (PwC) said on Wednesday.

Country results of PwC's 27th Annual Global CEO survey, which was released earlier this year, showed that 54 percent of the Philippine respondents believe that their firms will not be economically viable in 10 years or less, while 46 percent expect this to happen over more than a decade.