MANILA, Philippines — The Sy family’s SM Investments Corp., the parent company of the SM Group, is pushing for regional growth mainly through its logistics units in an effort to spur development in underserved areas across the country.
According to the company, it is beefing up investments in logistics through 2GO Group Inc. and Airspeed Group to boost economic activity in the provinces.
“There is a lot of potential especially in Luzon outside of the [National Capital Region], as well as in Visayas and Mindanao, where there is still a need to access modern trade,” SM Investments president and CEO Frederic DyBuncio said in a statement on Friday.
READ: SM Investments gains controlling stake in another logistics firm
“Logistics plays a crucial role in the delivery of goods and services to the people, especially with increased economic action,” he added.
2GO Travel, a sea travel provider, currently has businesses in the Visayas and Mindanao.
SM Investments noted that 2GO has likewise expanded the shipside services of less-than-container load, or cargo that does not usually fit a full container truck, to Iloilo, Zamboanga, Cagayan de Oro and Palawan to further build its regional footprint.
Airspeed, meanwhile, is “taking strategic steps” to mark its Cebu warehouse as a central point for future growth.
The logistics firm is planning to put up more kiosks in other key cities in the Visayas and Mindanao while collaborating with other service providers. INQ