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(USGovernment-News.Com, November 24, 2016 ) The Philippines, despite its growing economy and in fact, being one of the fastest growing economies in the world, is still behind its neighboring countries when it comes to transport and logistics performance. The Philippines can potentially become a key growth market when it comes to providing logistics and transport services in the years to come as predicted by the Global Research and Analyst Transport Intelligence.
So what could be done to increase the demand for contract forwarding and logistics here in the Philippines? According to the study Philippines Transport and Logistics 2015, in order to encourage investments by manufacturers, policy reforms must be done. Removing a number of obstacles to business transactions in the country, along with better investment support from the private sectors in the infrastructure industry, must all be done and the Philippines is bound to become a major key player in transport and logistics.
What then are the policies that need to be reformed? Improving the countries Logistics Performance Index or LPI by allowing free-trade options just like what the other 10 member-states of the Association of Southeast Asian Nations began to embrace last year. The removal or reduction of the existing restrictions on migration and trade must also be done to enhance economic growth and demand on transport. Boosting trade flows is the impetus that would ignite the growth of the said industry.
However, the disparities in growth rates would vary depending on different growth scenarios (low, medium, high). But all of these would depend on the LPI scores. By 2020, it is forecasted that domestic contract logistics market will grow by €1.412 billion with a compounded annual growth rate (CAGR) of 16.7% over the years in review.
The leadership of the Philippine government is crucial in the said growth of transport na logistics areas. Inability to create business-friendly reforms would result to a CAGR increase of only 10.5% which would only be equivalent to €962 million. Expansion rates for forwarding would likewise be dependent on the growth drivers of the logistics market.
Inspire Ventures, an international investor who is in full support of the growth of transport and logistics industry here in the Philippines, has launched Transportify that addresses concerns in Supply Chain Management (SCM) disruption as it lessens logistics and freight costs and amplify competence for SMEs operating in Metro Manila and its adjacent areas.
About Transportify
Transportify is a mobile and web app that allows you to book and manage pickups and deliveries of almost anything. Our marketplace connects businesses and individuals with qualified drivers and their vehicles to provide affordable services according to our high quality standards. Transportify's marketplace driven pickup and delivery service is built on an advanced yet easy to use delivery app that differentiates us from any traditional delivery company operating in Southeast Asia. Our marketplace provides delivery services to businesses and individuals in Metro Manila and select surrounding areas.
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