Prospects on trade with China among Filipino businessmen remain positive despite the ruling on the South China Sea dispute. Jollibee Food Corp. said that it is planning to add 20 to 40 branches to its 400-strong network in China.
Jollibee CEO Enesto Tamantiong said they are targeting a growth rate of 5 to 10 percent in their stores. The fast food giant is also looking for acquisitions in the food service business in China, said Tamantiong. Earlier this year, JFC acquired a food manufacturing facility to service its Yonghe King restaurants.
Tamantiong said they are aiming for a 50-50 ratio in revenue between its Philippine and international ventures. Currently, the ratio is at 80-20 with its Philippine business providing majority of its groupwide sales.
JFC operates a total of 2506 restaurant outlets in the Philippines comprising of chains like Mang Inasal, Chowking, Greenwich, and its flagship Jollibee stores.
