Trade Secretary Alfredo Pascual cited the rebound of the retail sector after posting over P600 billion in gross values added ( GVA) in the first quarter of 2022, up from P500 billion year-on-year
Pascual said the industry has been and will continue be an economic catalyst linking consumers to manufacturers, apart from its contribution to job creations.
“You hold the important role of connecting manufacturers to consumers, co-creating an environment where empowered consumers can choose what they need and want for themselves, and helping enable a healthy and fair competition that we hope will bring quality products at good prices to consumers,” he said during the second membership meeting of the Philippine Retailers Association Thursday.
He said the DTI was looking at generating at least P56 billion in fresh retail investments in the next five years following the enactment of the Retail Trade Liberalization Law.