We look back at 2022 as a period of recovery and taking deliberate measures to do well in our chosen segments and markets.
We look back at 2022 as a period of recovery and taking deliberate
measures to do well in our chosen segments and markets. As a
conglomerate, Filinvest Development Corporation (FDC) specifically
focuses on the middle market which we believe remains to be
underserved but has tremendous growth opportunities in the
Philippines. This strategy serves us well not only financially but
also has positive social impacts on the customers we serve.
The
Philippine macroeconomy provided a solid backdrop for FDC’s
recovery, registering a 7.6 percent gross domestic product (GDP)
growth in 2022. This surpassed the government’s own growth
assumption of 6.5 to 7.5 percent. The expansion was broad based,
with all the major production sectors registering positive growth,
despite the increase in international and domestic commodity
prices. Lifting the economy was a consistently high domestic
demand, driven by strong household consumption that was fueled by
improving labor and employment conditions, and stronger growth in
overseas Filipino remittances.
We will strive for continued growth and value creation, anchoring ourselves on the strong foundation we have built over the years.
From very humble beginnings when our founders started the
business in the 1950s, FDC has grown to become a major
conglomerate with a diverse portfolio of profitable
businesses.
Major milestones demonstrate our long
history of business growth and ability to continuously build and
cultivate new businesses.
In 2022, Filinvest developed a framework that articulates its key commitments to sustainability that will ensure its long term ability to create and deliver value to its stakeholders in the long term. It is a combination of corporate social investments, EESG (economic, environment, social and governance) practices as well as the delivery of innovative solutions that address social pain points, consistent with the Group’s purpose of “enabling Filipinos to achieve their dreams”.
