Philippines: redefining the future?
With preparations in full swing for Cemtech Asia 2016, to be held in Manila, Philippines, in June, ICR provides an update on recent activity in this thriving market. Cement sales demonstrated another strong performance in 2015 and expectations are for the positive trend to continue. Meanwhile, the creation of LafargeHolcim has redefined the production base, giving rise to the entry of another multinational onto the local cement scene. By ICR Research, UK.
The Philippines economy is estimated to have expanded by some six per cent in 2015, driven by growth in the services sector and consumer spending. However, the figure is a deceleration from the 7.1 per cent growth seen in 2013 and a slight dip from the 6.1 per cent advance registered in 2014. For 2016 the outlook remains promising with the IMF forecasting a 6.2 per cent rise, but the road ahead may not be without its challenges.