The Philippine Iron and Steel institute President said that the steel industry will get $1 billion investments that can generate 5,000 employment only in Philippine. He said also that the steel demand in Philippines is growing faster than that of the gross domestic products, creating a huge opportunity to expand the market.
The Philippine steel industry market is far behind those of its neighbors Indonesia and Malaysia, in fact the per capita consumption of steel in the Philippines is 60 kg which is far behind those of its neighbors and the global average of 220 kg, but with this administration and these investments it is estimated a considerable growth.