Industry & Retail

A pillar of one of Asia’s rising economies, the Philippine industrial sector posted another strong performance in 2017, growing by 7.6% despite recent geopolitical turbulence related to the 2016 election. Manufacturing output increased by 8.5%, bolstered by expansion in each of its core segments of electronics, food and beverages, chemicals and furniture. Riding the wave of consumer confidence that has remained relatively steady since the presidential election in 2016, the Philippine retail sector scores well in global rankings for development potential. With a population of over 105m and a growing consumer middle class, per capita GDP reached around $7700 at purchasing power parity in 2017, moving ahead of India. This chapter contains an interview with Inanc Balci, CEO and Co-founder, Lazada Philippines.