The Philippine Construction Sector – Laying A Solid Foundation For The National Economy

With the global infrastructure markets developing at rapid rates, it has become imperative for all developing countries to keep pace with this growth, by having healthy building and construction sectors of their own. The overall worth of the global construction industry stands in excess of $ 4.6 trillion and Asian countries account for the lion’s share in this figure. Philippines is one of the Asian countries, which, along with China and Korea, have contributed to put Asia firmly in the international construction industry map. Trade events like the Philconstruct 2011 are likely to boost the growth rates of the Asian construction industry further.

Philconstruct 2011
For a proper and balanced growth of any business sector, the presence of a strong and well-functioning regulatory body is imperative. In Philippines, the Construction Industry Authority of Philippines, or the CIAP, performs this duty in a truly commendable manner. The CIAP, which was incepted in 1980, looks into all the various facets of the construction businesses and encourages the use of new and improved products, to attain greater manufacturing efficiency. The results of such sincere efforts are for all to see at the Philconstruct event.

Thanks to the well-maintained structure of the construction industry in Philippines, a large number of domestic companies are actually venturing into the sector. The largest among them all is the Philippine National Construction Corporation. The overall demand and popularity of construction products and equipments can easily be gauged from the number of professional visitors at the Phil construct, which, at more than 54000, is remarkable indeed.

Construction industry activities are not only about cement, concrete and the like, however. Professionals from this sector need to be conversant with the use of several other products and accessories, like paints, engineering tools, heating and cooling systems, safety equipments and IT applications. A visit to this event gives a clear view of the truly extensive range of products and services that find extensive usage in the building and construction sector.

In addition to the building construction sector, also of importance are the industrial construction and civil construction sectors in the global markets. In order to match up with the leading producers of construction goods, manufacturers in Philippines too need to make use of new and sophisticated machines and equipments, to enhance the quality and efficiency levels of their infrastructure services. These efforts are reflected at the Philconstruct Pasay trade show.

With Asia having already emerged as worldwide leader in the building and construction business, the focus has now shifted towards creation of eco-friendly, ‘green’ buildings. The authorities in Philippines are aware of this trend and, over the years, the country is likely to contribute more to the global construction sector.