Franchising industry contributes 7% to GDP

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CEBU CITY—The franchising industry contributes seven percent to the country’s gross domestic product (GDP), according to the Philippines Franchise Association (PFA) vice chairperson and president of the Philippine Chamber of Commerce and Industry (PCCI) Bing Limjoco in a press conference in Cebu, Friday.

Limjoco said despite the coronavirus disease 2019 scare and the other challenges the country is facing, the franchising industry in the country remains very positive and has created tremendous job opportunities and livelihood for millions of Filipinos, especially in the retailing and the micro, small, medium enterprises .

According to Limjoco when it comes to franchising, there are many opportunities and we are very positive. “We are the first in Asia that brought the Certified Franchise Asia Course to the Philippines since 2010 and this paved the way to the growth and active franchising industry here,” she added. The business exposition and exhibit on March 25-29 is organized by the Philippine Franchise Association and the FAPHL that continue to be the country’s main capacity-building event for the Philippine franchising sector for 28 years now.

 

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