Industrial expansion has played a leading role in the country’s economic progress, with value added from industry more than doubling between the late 1980s and the early 2000s. While Philippine industry is positioned further down the value chain than many of its ASEAN peers, the sector has nevertheless long served as a pillar of the national economy. From a manufacturing standpoint, a number of inherent advantages make the country an enticing production base and consumer market, including its strategic…
Industry & Retail
From The Report: Philippines 2019
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Industrial expansion has played a leading role in the Philippines’ economic progress, with industry’s value added doubling between the 1980s and early 2000s. From a manufacturing standpoint, a number of inherent advantages make the country an enticing production base and consumer market, including its strategic location, large population, and burgeoning middle class. However, congested transport networks and the relatively high cost of power have restricted progress. Favourable macroeconomic conditions – lower inflation and increased purchasing power – have bolstered consumer confidence in the Philippines. Likewise, enhanced business strategies and new product lines have played a key role in expanding the retail sector in recent years, as has the continued development of e-commerce and smartphone penetration. This chapter also contains interviews with Satoru Suzuki, President, Toyota Motor Philippines; Gerard Brimo, Chairman and CEO, Nickel Asia Corporation, and Chairman, Chamber of Mines; and John Murphy, CFO and Former President for Asia Pacific, Coca-Cola Company.