Cemex Philippines pins growth on govt spending

Cemex Philippines pins growth on govt spending
Published: 17 May 2010

Increasing government spending may lift its performance before the year ends, according to Cemex Philippines.

“We’re hoping the increased spending of the government on infrastructure projects this election period will continue throughout the year," said Paul Arcenas, Cemex vice president for planning.

Compounded net growth in the demand for cement was between 0.5 and 1 per cent from 1998 to 2007. In 2008, business started picking up, but within a limited pace.

“We’re good but it could be better. Let’s hope that the investment environment will continue to improve," said Arcenas.

The private sector has led the construction industry in the previous years, but government builders are slowly getting in on the action since 2008.

This year, much of the public spending is on infrastructures.

“There’s movement but if you compare the per capita of the Philippines, it’s way below than the per capita utilisation of Malaysia and Thailand," Arcenas said.

Source: GMA News