While the local retail market is still being eyed by foreign retailers, Claudio said some of them, especially the big ones, may be holding off on entering the local market as they wait for the expiration of the 60 percent equity restriction under the Retail Trade Liberalization Law on March 25 this year.
Foreign retailer Wal-Mart, for example, according to Claudio, is set to put up 200 retail outlets in China.
In the Philippines, Wal-Mart is still in the exploratory stage.
He pointed out that a number of small foreign retailers are quietly entering the Philippines. But because there is no government monitoring on the entry of small foreign retailers, only the entry of big foreign retailers are noted.
These include S &R Price, Orkam, Watson’s and McDonalds.
S&R Price and Orkam have full ownership, while Watson’s and McDonalds have entered through joint ventures.