Construction boom to drive growth in transport equipment business
By Louella Desiderio (The Philippine Star)
MANILA, Philippines - Local truck body builder Centro Manufacturing Corp. is optimistic in the growth of the transport equipment business this year amid an increased demand seen in construction investments.
In a statement yesterday, Vic Belisario, sales manager of Centro Manufacturing, said the prolonged construction boom in the country is seen to
support the transport industry.
He cited that analysts view the sharp increase in public construction investment which started in the last quarter of 2011, would encourage the government to continue to boost infrastructure spending this year.
The higher government spending on infrastructure, he said, would result in overall construction growth rate of 6.6 percent this year.
“With this development, we expect the
demand for truck, earth moving and other transport equipment to increase,†he said.
“Factor in the increases in call centers, overseas
Filipino workers’ remittances, hotel or condo or office constructions and domestic trade transactions, not only is the truck market expected to increase but the truck-mounted equipment market as well,†he said further.
Data from the National Statistics Office showed that domestic trade transactions which flowed through the transport system was up 4.7 percent in the first quarter compared to the same period last year.
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