Gov’t plans to revive industrialization body
A COUNCIL tasked to help the government craft a national industrialization strategy is set to be revived amid efforts to boost the manufacturing sector’s contribution to economic growth.
The Industry Development Council (IDC), created during the term of former President Fidel V. Ramos, has been dormant for some time now. It is being revived to help the administration meet its economic targets under the Philippine Development Plan.
The Department of Trade and Industry, National Economic and Development Authority, Department of Finance, Department of Science and Technology and private sector representatives make up the IDC.
Trade Undersecretary Adrian Cristobal Jr. said during the 2nd Philippine Manufacturers and Producers Summit that the industrialization strategy would take into account the integrated manufacturing road map that the government was preparing.
The government plans to convene the council in the first quarter next year, Cristobal said. The integrated road map for manufacturing is expected to be completed at about the same time.
The government wants to revive the country’s industrialization efforts given the potential of basic industries such as copper, petrochemicals and iron and steel, Cristobal said.
Earlier this year, the DTI launched the industry road map initiative, which involves working with stakeholders to come up with plans to promote the growth of specific industries and the entire manufacturing sector.