60 int’l brands plan to enter Phl

MANILA, Philippines - Sixty international brands plan to enter the Philippine market given the country’s strong economic growth and growing population, the Philippine Franchise Association (PFA) said.

In a press conference yesterday, PFA chairman emeritus Samie Lim said 60 international brands are interested to find local firms that they could partner with to serve as holders of their master franchise here.

The international brands want to enter the Philippine market as they see opportunities here.

“Why are they coming here? We have  a 100 million population and the population is young. In fairness to this government, economic growth or economic miracle is happening…Other economies, they don’t have this much people,” Lim said.

Lim noted international brands expect the Philippine market, particularly the young working population with the capacity to purchase goods, to grow in the coming years.

The 60 international brands of food and retail products are from countries which include South Korea, Malaysia, the US and United Kingdom.

The 60 brands were invited by PFA to attend the Franchise Asia Philippines 2014 show to be held at the SMX Convention Center in Pasay City on July 16 to 20.

The franchise show would feature businesses open for franchise as well as cover discussions on what to expect with the Association of Southeast Asian Nations (ASEAN) economic integration.

“By 2015, there will be an AEC (ASEAN Economic Community). In franchising, PFA has been a pillar and we would like to help franchise companies prepare for the ASEAN integration,” Franchise Asia Philippines 2014 overall chairman Alan Escalona.

Escalona said that as many international brands explore business opportunities here, Filipino franchise companies also have to prepare to serve the bigger ASEAN market.

“Instead of having a clientele 100 million Filipinos, all of a sudden these companies will have 600 million clientele,” he said.

The AEC, to be established by the end of 2015 would allow free flow of goods, services, skilled labor, investments and capital within the region.