In the Philippines, the security industry has been growing very fast, due to high demands and awareness, as well as need for safety. However, the slow economy in recent times has impacted overall growth, and the declined government expenditure will slow the growth rate of the security market, with projects like city su
In the Philippines, the security industry has been growing very fast, due to high demands and awareness, as well as need for safety. However, the slow economy in recent times has impacted overall growth, and the declined government expenditure will slow the growth rate of the security market, with projects like city surveillance postponed or delayed. Despite this, mid-high projects have been stronger, driven from the commercial sector, e.g., critical infrastructure, and hospitality that have security needs. This will continue in 2015, with commercial projects from the private sector driving forward, said Sunny Kong, Director of Sales in Asia at
Milestone Systems. Whereas public-private partnership projects in the Philippines have been successful. “Critical infrastructure projects like airport, transport, and hospitality etc. has been driving the business,” said Kong.
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