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| Topic: |
Business
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| Number of pages / Number of words: |
4 / 861 |
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This was nominally to protect small corner shops from foreign competition, but the ban acted to keep the bulk of retail trade small-scale, much of it in the informal sector. The 2000 Census of Philippine Business and Industry showed that in 1999 the Philippines had 298,764 retail outlets (excluding retail trade in motor vehicles), employing 1...
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However, a trend was established in the late 1980s and 1990s for the development of large shopping complexes, many of them in the vicinity of Manila and geared towards the higher incomes in this region. Foreign-exchange reserves steadied to US$12bn-14bn in 1999-2001 following a sharp fall during the regional financial crisis of 1997-98, and remained around this level until early 2005...
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