JEWELRY makers are expecting 15-20 percent growth in domestic sales and hardly any growth in the second half of this year.
The sector’s revenue in the first half of 2016 increased 10 percent.
“Our outlook is, our economy is at the brink of going up. With the country’s peace and order situation improving, more tourists are coming so local businesses should be ready,” she said. The chairman of the Meycauayan Jewelry Industry Association, Cecille Ramos, said.
Besides, the Christmas season also helps sales, she said.
“We are hoping that economic growth will really increase. The industry will grow along with the economy” she explained.
On the export front, she said, no significant change could be expected as the economy of Europe, a major market, has yet to improve.
Businesses are optimistic about the new administration, hopeful that more necessary projects will be implemented without corruption.
Ramos welcomed particularly President Rodrigo Duterte’s directive during his first State of the Nation Address to government financial institutions to develop out-of-the-box financing packages to capacitate the small and medium enterprises.
Ramos said the previous administration rejected the project the Philippine Exporters Confederation proposed for promoting Philippine products abroad.
“So we are hopeful that with that announcement, that project proposal will be approved so we could promote our products abroad. That’s what we need,” she added.