AMERICAN multinational open-source software provider Red Hat Inc. is considering setting up a subsidiary in the country, noting that the Philippines is an encouraging market because it is one of the fastest growing economies in Asia.
Damien Wong, Red Hat’s general manager for Southeast Asia, said the country’s rapidly growing economy is helping increase awareness on the solutions Red Hat is offering.
Because of this, Red Hat is looking into setting up a subsidiary in the Philippines soon, he said.
“The numbers are very encouraging,” Wong said.
“We do expect [Philippine] companies to adopt Red Hat technologies,” Wong told reporters on the sidelines of a forum hosted by the company in Parañaque Wednesday.
The New York-listed company has been present in the Philippines through various partners but Wong said that seeing the combination of positive factors the Philippines has been showing, the country appears to be a good venue for expansion.
Wong explained that if Red Hat does decide to expand in the Philippines, the company will set up a subsidiary, an expansion approach the company adopts, instead of opening a representative office.
“That is our approach. We set up subsidiaries. We do not set up representative [offices],” he said.
Asked if Red Hat has a target date for its expansion in the Philippines, he replied, “I don’t want to jump the gun and announce a date.”