Potential Growth in the Philippine Logistics Market
With the Philippine government’s thrust towards the improvement of the country’s infrastructure, it is clearly evident that the economy has nowhere to go but up. With the build, build, build program, the consistent warnings to the communications companies to shape-up and the continued attempts to improve government services, which include the curbing of corruption and minimization of red tapes, this administration is telling the world it means business.
And it really means business. In fact one of its goals is to achieve the ‘Golden age of Infrastructure.” It also told the major players in the telecommunications industry to either shape –up or close shop. Plus, there are continuing programs to streamline its different agencies like online applications and processing services to expedite transactions and to ease the burden of the public. All of these to boost the country’s economy from years of stagnation.
And when a country’s economy grows, its support services, like the logistics industry, grow with it. And with the rise of globalization, the logistics market is definite going to increase at an amazing rate in this country.
In fact in 2015, Transport Intelligence (Ti), a trusted research and analysis company on the global logistics industries, said that the Philippines could become a key market for local and international companies that offer logistics and forwarding-related services in the coming years.
The Philippines is also said to be one of the fastest growing economies of the world. And the logistics industry runs parallel with the growth or decline of an economy.
Among the services the logistics industry offer are: document deliveries, parcels, freight, storage and warehousing, and other value added work such as administrative and documents preparation.
Therefore, with new and better roads, airports, ports, bridges and railways, improved and faster telecommunication facilities, smoother and easier dealings with government transactions, expect commerce to increase, economy to improve and support services like the logistics industry to prosper.