MANILA, Philippines–The local unit of UPS Inc., a US-based shipment and logistics company and one of the largest in the world, has committed to make further investments in the Philippines to take advantage of the expected robust growth of the local export market.
Maurice Tim Gohoc, managing director of UPS SCS Philippines Inc., yesterday said that the company would continue to evaluate the market for prospective opportunities to further expand local operations.
“Everything will be driven by demand. We will always look into investing here as we continue to upgrade our intra-Asian network and build our global portfolio,” Gohoc said. “Investments will be mostly in capacity-building because of the expected economic growth.… This means investments for additional trucks and personnel. We will be increasing our capacity if there’s a demand, and that’s what we’re looking at and studying right now.”
Gohoc declined to cite details regarding the company’s capital outlay and the timetable. But he said that, every year, “there are investments being made in the country, whether for refleeting or for increasing the number of vehicles.”
The company’s proposed investments and expansion programs largely hinge on the growth of the local export sector, which depends on the logistics business for the transfer of goods here and abroad. Also a key driver will be the country’s economic performance.
“We believe the export market is growing and there are some figures coming out that, by 2016, the automotive sector will grow and boom. Those are very nice news for us … because, hopefully, we will be able to help these players to bring these goods out to the market players,” Gohoc said.