Mitsubishi’s big bet and the Philippines’ bigger challenge

THE real significance of Mitsubishi Corp.’s $700-million investment in Ayala Corp. is not merely that a Japanese trading giant is increasing its stake in one of the Philippines’ oldest conglomerates. Rather, it is what the deal tells us about where the next phase of Philippine economic growth may come from and whether the country can turn investor confidence into a more competitive economy. Under the agreement announced on Sept. 21, Mitsubishi will increase its stake in Ayala from 4.7 percen

THE real significance of Mitsubishi Corp.’s $700-million investment in Ayala Corp. is not merely that a Japanese trading giant is increasing its stake in one of the Philippines’ oldest conglomerates. Rather, it is what the deal tells us about where the next phase of Philippine economic growth may come from and whether the country can turn investor confidence into a more competitive economy. Under the agreement announced on Sept. 21, Mitsubishi will increase its stake in Ayala from 4.7 percen