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DHL chief executive officer Frank Appel made the announcement, noting that the additional capital earmarked for the country over the next two years would be used to "enlarge our footprint" in a promising market like the Philippines, which had seen healthy growth over the past year.
The amount will be used specifically for the company's Express and Supply Chain units in the Philippines, and for additional warehousing facilities that may be set up in Central Luzon and Mindanao, Appel said.
Although he did not disclose the specific sites for the proposed facilities, he said the company was considering Central Luzon and Mindanao because of the growth prospects in these areas.
Appel further said the company decided to infuse the additional investments in the Philippines as the country had become an important market for many industries. This means the country will need high-quality logistics services to cater to the expected increase in demand from these industries.
The company's plan to infuse additional investments in the country was not affected by a recent decision of the Court of Appeals, barring another foreign logistics firm, Federal Express, from operating in the Philippines.
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