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The first iteration of the LTFRB was established on November 17, 1902, through the passing of Act No. 520. [2] The commission is in charge of classifying vessels, merchandise, and passengers in with reference to transportation under the coastwise trade, and fixing the maximum rates to be imposed on the vessels and merchandise of different classes, and people that are being moved from one point ...
At that time 69 of the Max's Group shares are owned by the company while the rest are largely owned by its franchise stores. [4] In November 2024, the Group's third-quarter net income dropped to 68.3%. In a strategic management of its store network it decided on closures from 657 to 626 branches during the 3 quarters of the year. [5]
PriceSmart was the first major foreign retailer to enter the Philippine market since the passage of the Retail Trade Act of 2000, which liberalized the retail sector. [3] In November 2001, PriceSmart opened its first branch on a 5,000 m 2 (0.50 ha) property in Bonifacio Global City, then known as The Fort. [4] [5] [6]
The word franchise is of Anglo-French derivation—from franc, meaning 'free'—and is used both as a noun and as a (transitive) verb. [2] For the franchisor, use of a franchise system is an alternative business growth strategy, compared to expansion through corporate owned outlets or "chain stores". Adopting a franchise system business growth ...
[5] On June 2, 1975, the Department of Trade was created under PD 721 to pursue efforts of the government toward strengthening the country's socio-economic development, particularly in the area of commercial activities. [6] A key strategy of the new department was vigorous export promotion to generate much needed foreign exchange.
McDonald's Philippines, known locally and colloquially and shortened as McDo [3] (), is the master franchise of the multinational fast food chain McDonald's in the Philippines. The master franchise is held by the Golden Arches Development Corporation , a subsidiary of Alliance Global Group .
[6] [7] [8] In 1989, Chowking started a franchise system which enabled them to enter new markets with limited resources. [3] Its first franchise opened in the provincial town of Meycauayan, Bulacan. [7] That year, Chowking had expanded to ten locations. It required ₱5–7 million to start a new Chowking franchise. [4]
The economic history of the Philippines is shaped by its colonial past, evolving governance, and integration into the global economy. Prior to Spanish colonization in the 16th century, the islands had a flourishing economy centered around agriculture, fisheries, and trade with neighboring countries like China, Japan, and Southeast Asia.