Conglomerate SM Investments Corp. (SMIC) said Friday it will continue pursuing regional development as it sees huge opportunities outside Metro Manila.
“There is a lot of potential especially in Luzon outside of the NCR as well as in Visayas and Mindanao where there is still a need to access modern trade. And it’s not just for our core businesses of retail, banking and property, but also for our portfolio companies,” SMIC president and chief executive Frederic DyBuncio said in a statement.
Under the plan, SMIC said it would beef up investments in logistics through 2GO Group and Airspeed to help spur more economic activity in the provinces.
The conglomerate said it would concentrate its efforts on identifying and optimizing opportunities in various regional markets for its core businesses and portfolio investments.
DyBuncio said with the increased economic activity across the country, its logistics business plays a crucial role in the delivery of goods and services to the people.
2GO Group serves Visayas and Mindanao with routes in key cities in the region. Interports are available from Cebu to Cagayan De Oro, Butuan or Ozamis. 2GO’s strategic logistical hubs handle cold chain requirements for food shipments from Visayas and Mindanao to Manila and the rest of Luzon.
It also extended its shipside services from Manila and Cebu to Iloilo, Zamboanga, Cagayan de Oro and Puerto Princesa, providing micro, small and medium enterprises with opportunities to scale by transporting time- and temperature-sensitive goods nationwide.
The transport and logistics firm also provides end-to-end solutions encompassing transportation through a fleet of 3,000 couriers servicing inter-VisMin transfers.
Airspeed is taking strategic steps to position its Cebu warehouse as a central point for future growth. The company plans to establish new hubs in key VisMin cities, along with opening more kiosks and collaborations with service providers.
These developments will provide better customer options and ensure quicker delivery times and eventually allowing Airspeed to deliver improved service and competitive prices, it said.
DyBuncio said the group’s core businesses—banking, retail and residential—are also expanding their presence in the regions where key cities are demonstrating double-digit economic growth.
SMIC’s retail unit opened 419 new stores, 89 percent of which are located in provincial areas, in 2023.
SMIC’s residential unit also opened three malls in 2023, while SM Development Corp. has 20 residential projects in key cities in the country.
“We view the regions as a bright spot for growth with the diverse products and services that we offer to consumers. We believe that there’s so much more opportunities for us to be able to provide better services to the Filipino people in the regions,” DyBuncio said.