THE PHILIPPINE unit of multinational logistics company UPS is projecting faster growth next year, citing robust prospects in the Asian region and the growth of e-commerce.
Tim Gohoc, UPS Philippines managing director, said in a media briefing last week that the company had moved to expand its domestic operations to cover whole country. He said the group was now moving to boost services in the region in terms of transit speed and customer service.
“It is our belief that the Philippines is poised for growth,” Gohoc said, while declining to share country-specific figures. “We have the infrastructure and we have the people. In 2016, we do believe we will grow faster than [the market].”
Those prospects are in sync with the outlook for the rest of the region. In Asia, Gohoc said economic growth was expected at about $22 trillion over the next five years.
“Within the region, the trend is tremendous growth,” he said.
Intra-Asia trade accounts for more than half of global trade and the International Monetary Fund projected that Asia-Pacific is still leading global growth.
The Philippines, alone, has seen expansion in terms of UPS’ coverage, Gohoc said. The unit recently increased its reach to another 185 new postal codes. That brings UPS Philippines’s coverage nationwide, he said.
“Companies can now send shipments directly to more locations across the nation than ever before, enabling them to better meet the needs of their own clients,” he said in a separate statement.
Gohoc also noted that service enhancements have improved the transit time for about 70 percent of its domestic postal codes. UPS customers are usually individuals or businesses with time-sensitive needs, Gohoc said, but he added that more economical services are also available for those willing to wait longer for delivery.
Gohoc said they were likewise tracking growth in the e-commerce space alongside its more traditional business.
“We do see a number of online orders,” he said. “That trend [e-commerce] will spur continued growth of the economy.”