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Ayala chief urges firms to set up shop in PH

THE Philippines remains one of the most promising economies in Asia despite global volatility, Ayala Corp. Chairman Jaime Augusto Zobel de Ayala told a gathering of the US-Philippines Society last week.

'We in the Philippine business community remain hopeful at the country's prospects for growth, which have not dimmed despite a volatile global environment,' an Ayala Corp. statement quoted Zobel de Ayala as having told the nonprofit organization's board.