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Home >> Daily News >> Philippines News >>Investment >> 60 foreign brands eager to do business in PHL – franchise officials
60 foreign brands eager to do business in PHL – franchise officials Global franchise brands and concepts are raring to set up shop in the Philippines and take advantage of a growing population and expanding consumer sector ahead of the ASEAN Economic Integration by end 2015, Philippine Franchise Association (PFA) officials said Wednesday. The number of international franchises has doubled in the upcoming franchise expo in the Philippines, PFA chairman emeritus Samie Lim said in a press briefing in Makati City. "There are at least 60 brands of international franchise that wants to locate in the Philippines that are looking for master franchisees," he said. The brands are from the US, UK, Japan, Korea, Singapore, Indonesia, Malaysia, Taiwan and Hong Kong, Lim noted. By 2015, the ASEAN Economic Community (AEC) sets in motion the creation of a single market spanning the 10-nation bloc. ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. Lim said foreign franchise owners and brands are looking at the Philippines because of the 100 million or so population. "We have a young population and we are near the 'sweet spot' where 65 percent of the total will be in the working age by 2015," he said. From July 16 to 20, PFA will hold its annual franchise event called Franchise Asia Philippines 2014 (FAPHL 2014). The international pavilion is now about 20 percent of the whole expo from 10 percent last year, FAPHL 2014 International Franchise Expo committee chair Richard Sanz said. "It has doubled, from just occupying half a hall last year, it now occupies one hall," he said. "This bodes well for our plan for the Philippines to be the hub of franchising in Asia," he added. The growing interest of foreign brands and businesses to open shop in the Philippines pose both opportunities and threats to local micro, small and medium enterprises (MSMEs), especially with the upcoming AEC 2015, Lim said. "Because of the AEC, everybody is coming in and these foreign establishments have thousands of stores all over the world and here, the mom-and-pop shops only have three or four," he said. "If you're not globally competitive, you'll perish," he added. The Philippine government should put up programs to help MSMEs improve and expand their business locally and abroad, Sanz said. "The government can actually help the MSMEs by giving access to markets... providing training to upgrade productivity, efficiency and branding... and helping them access financing..." he said. "We see a lot of foreign brands that may come in, but we also want our brands to go out," Sanz added. The table below shows the brands and concepts that are eager to do business in the Philippines, accoriding to the PFA. Franchise Asia Philippines 2014 : International Exhibitors
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