CONGLOM SM Investments Corp. said it is ‘cautiously optimistic’ next year, as the company is encouraged by the continued growth of the Philippine economy. SMIC President and Chief Executive Officer Frederic C.
CONGLOM SM Investments Corp. said it is ‘cautiously optimistic’ next year, as the company is encouraged by the continued growth of the Philippine economy. SMIC President and Chief Executive Officer Frederic C.
DyBuncio said that despite ongoing challenges, such as the peso-dollar exchange volatility and higher inflation, the business sector has adapted well. Data from the Philippine Statistics Authority showed household final consumption expenditure posted a year-on-year growth of 5.1 percent. “Any moderation in inflation should trigger a strong confidence rebound. This could create opportunities in consumer-focused sectors in the country and we are poised to cater to these evolving demands,” DyBuncio said. “Our focus for 2025 will be to drive purposeful growth, empowering communities and partners through our investments towards a sustainable future,” he said. To cater to growing demand, SM continues to expand into more underserved areas, contributing to sustainable economic development and collaborating with government stakeholders to enhance access to modern retail, financial services, and integrated property developments. “By investing and expanding to more areas nationwide, SM creates new markets and improves access to these essential sectors, serving more communities and helping stimulate sustained economic activities,” he said. DyBuncio said SM continues to invest in promising ventures such as renewable energy and logistics, that foster economic activity. SM has invested in the clean energy industry through Philippine Geothermal Production Co., which produces 300 megawatts of geothermal steam supply. The company said it will continue to develop geothermal concessions through PGPC in support of the Department of Energy’s goal of reaching 50 percent renewable energy supply by 2040. To encourage circularity towards green energy production, SM’s property arm, SM Prime Holdings partnered with GUUN Co. Ltd. to implement the Japanese technique of reducing landfill impact. The technology converts non-recyclable and hard-to-recycle packaging into alternative fuel. BDO Unibank Inc., meanwhile, is one of the largest funders of renewable energy projects. BDO has funded P898 billion in sustainable finance, including loans to 59 renewable energy projects as of December 2023. In logistics and tourism, the improvement of transport networks across the country’s archipelago connects tourist and industrial areas that will help create inclusive growth. SM though its subsidiary 2Go Group Inc. launched MV Masigla and MV Masikap this year to help better connect goods to 19 ports including Iloilo, Bacolod, Cagayan de Oro and Manila, further supporting the government’s push for medium term growth through an upgraded tourism infrastructure and ecosystem.
Please follow us on Google to support us Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Senate passes P6.352 national budget for 2025MANILA, Philippines — The Senate approved the 2025 General Appropriations Bill (GAB) on third and final reading with 18 votes in favor, none against, and one abstention.
Read more »
Bacolod Council eyes to approve 2025 annual budget in DecemberSunStar Publishing Inc.
Read more »
Voter education campaign for Eleksyon 2025 to start in December —ComelecLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Group to summarize Senate, House’s 2025 nat’l budget bill differencesLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
GOT7 Preparing for Long-Awaited Full-Group Comeback in Late January 2025K-pop boy group GOT7 is reportedly gearing up for a comeback with a new album, set for release in late January 2025, following the discharges of Jay B and Jinyoung from their military service, according to a report by OSEN.
Read more »
Labor group calls for suspension of ballot printing for Eleksyon 2025Latest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »