â€ŽABS CBN News:
The master franchise holder of McDonaldâ€™s in the Philippines expects as much as 50 new branches this year to take advantage of robust economic growth.
The rapid pace of growth will continue for the next three to five years, an executive said.
â€œWe are very excited, we continue to grow. This year we can grow 40 to 50 stores all over the country,â€ Kenneth S. Yang, president and CEO of master franchise holder Golden Arches Development Corp., said in a chance interview.
This will allow the company to end the year with a record 370 stores nationwide.
Yang said the expansion is 50 percent more than the company did last year, on top of the store renovations.
â€œDefinitely the economy is very strong and I think the growth of the business process outsourcing industry is helping a lot and the overseas remittances continue to be there,â€ Yang said. â€œConsumer spending is still very strong so I think,â€ he added.