"Retail store operators are more optimistic this year," Siggaoat said.
In 2000, retail sales contracted by three percent due to a slow down in economic activity. The expected rebound this year, Siggaoat said, had been felt as early as November last year and was seen in footwear and clothing.
Even the Shoemart chain of stores, Siggaoat related, was surprised by the strong rebound in retail sales.
However, Ma. Alegria Limjoco, vice chairman of the PFA warned that the government should resolve soon the issue of leadership so as not to scare away possible investors. "There is still some concern about the continuing claims of deposed president Joseph Estrada to the presidency," she said.
Samie Lim, founding president of the PFA, said the future of Philippine retailers is now in the hands of the new franchising industry.
He said that one big US financing company, the Overseas Private Investment Corp. (OPIC) has expressed interest in helping provide financing for entrepreneurs interested in securing the franchise of US companies.
According to Lim, the PFA is also spearheading moves to bring the attention of the outside world to Philippine companies through franchising.
The PFA, Lim said, is bringing about 20 Filipino companies abroad to help and facilitate their franchise operations.
These Filipino companies, he said, include Jollibee, Bench, Penshoppe, Josephine’s and Max’s Restaurants.
He said representatives of the 20 local firms would visit such countries as the United States, France, the United Kingdom, Italy, Taiwan, Singapore, Indonesia and China.
The PFA, Lim said, will help the local firms through a collective effort to negotiate with government and bring the attention of these Filipino companies to foreign markets.
He noted that if the companies were to individually proceed on their own, they would not be able to succeed.
Aside from the roadshow, the PFA is also hosting a franchising conference and exhibit to be held in September in the country.
The international conference and exhibit, he said, will bring the Philippine franchising industry a step closer to globalization.