Read this in the Manila Times digital edition.
The country’s logistics industry expects to rebound this year after collapsing due to the coronavirus pandemic.
In a January 2022 report, India-based market intelligence advisor Mordor Group sees the Philippine freight and logistics market growing at a rate of at least 8% this year.
The industry includes the courier, express and parcel (CEP) market and the transportation, warehousing, cold storage and e-commerce sectors.
This optimism is echoed by JLL Philippines Research, which noted that the logistics and industrials sectors remain bright spots in the property market and will continue to outperform other asset classes this year as they did in 2020.
The logistics sector has grown exponentially, contributing 70% to economic growth from 2020 to 2021 despite the pandemic, according to the National Economic Development Authority (NEDA).
Growth is expected to continue this year, with forecasts for the logistics sector reaching a peak of 1 trillion pesos by 2024.
To achieve this, the industry needs the support of the government and the financial community to improve profitability and digital innovations in order to achieve medium and long-term objectives.
The outlook for the sector will be discussed in-depth by its players on the Manila Times online forum, “The PH Logistics Industry is Moving Big and High: Industry Outlook for 2022 and Beyond,” at 10 a.m. today. January 27th.
The monthly forum addresses the most pressing and important issues that shape and clarify government and socio-economic policies and highlight business and lifestyle trends.
It will be streamed live on The Times’ Facebook, YouTube and Dailymotion accounts.
Guest speakers are Norman Fulgencio, Postmaster General and Chief Executive Officer (CEO) of Philippine Postal Corp., and Sheila Lobien, CEO of Lobien Realty Group Inc.
