Ayala Group inks cooperation deal with New Zealand trade agency

MANILA, Philippines — Conglomerate Ayala Corp. has entered into a cooperation agreement with the New Zealand Trade and Enterprise (NZTE) to explore potential business and collaborative opportunities. The agreement was signed during the visit of New Zealand Prime Minister Christopher Luxon on Ayala’s headquarters as part of his recent official state visit to the Philippines.

“We are excited that there is renewed interest for New Zealand to explore opportunities in our country,” Ayala chairman Jaime Augusto Zobel de Ayala said.

“Likewise, we are interested in what we can learn from our Kiwi friends across a wide range of industries and sectors,” Zobel said.

Luxon described the Philippines as one of the fastest growing economies in the region.

He introduced to the Ayala Group a delegation of senior business leaders from different industries, including manufacturing, airline, food and beverage, education and energy during his visit.

Luxon said he looks forward to identifying how his business delegation can work with Ayala for the benefit of New Zealand and the Philippines.

“We’re very grateful to be here. This (Ayala) is a conglomerate with huge capabilities and huge interests in multiple sectors across the Philippine economy,” he said.

Ayala, the country’s oldest conglomerate, posted record high core profit in 2023 due to the strong performances of its banking, real estate and power businesses.

Ayala’s core net income, which excludes one-off items, soared by 48 percent year-on-year to P41 billion.