APEC summit, APRCE to boost PH retail


(Source: ABS-CBNnews.com | September 7, 2015)

Local retailers are looking forward to two international events in the coming months that are expected to help boost retail growth in the country.

Philippine Retailers Association (PRA) president Lorenzo Formoso, chief operating officer of Duty Free Philippines, said the Manila hosting of the 17th Asia Pacific Retailers Convention and Exhibition (APRCE) 2015 on October 28 to 30 at the SMX Convention Center and the Asia Pacific Economic Cooperation (APEC) Leaders’ Summit in November are certain to focus the global spotlight on the country.

During the recent media launch of the 17th APRCE Manila, Formoso said these events will attract high-profile visitors to the country and help boost the growth of the Philippine retail industry this year and hopefully onwards.

“We expect a better year this year. Hopefully this will redound to at least a 5% growth. We are seeing a lot of positive benefits with the country’s hosting of the APEC meetings and the PRA’s hosting of the APRCE Manila 2015, the biggest and grandest retail industry event in the region this year, and a lot of foreigners will visit the country,” he stressed.

Formoso also reported that the PRA is staging the Philippine Shopping Festival during this period wherein malls and chain stores in the country will mount promotional sales and offer discounts to complement these big international events which will attract foreign visitors.

PRA chair and APRCE 2015 overall chair Frederick D. Go, president of Robinsons Recreation Corporation, said the two-day event “is an opportunity for us to learn, show and do; the opportunities are limitless,” noting that the Philippines beat Thailand and Australia for the right to host the APRCE this year.

The PRA is particularly focusing on the APRCE Manila 2015, which is expected to attract over 2,000 international and local retailers and retail executives. The expo also expects more than 200 local and foreign exhibitors.

Manila last hosted the APRCE 22 years ago, also through PRA’s efforts with support from then President Fidel V. Ramos.

PRA chairman emeritus Samie Lim, chairman of Blims Lifestyle Group and Canadian Tourism and Hospitality Institute, noted that APRCE will be a venue for foreign retailers who are also looking at the Philippines for possible equity ventures to see the market first hand.


Article Link: http://www.abs-cbnnews.com/business/09/06/15/apec-summit-aprce-boost-ph-retail