Gov’t eyes revival of industry sector

Officials note strong interest among foreign investors

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The Philippines’ chief economist expects to see a more vibrant industry sector in 2013 as the government focuses on key industries and strives to ease the processes and costs in doing business.

“Our key priority sectors, namely tourism, business process outsourcing or BPO, electronics, housing and real estate, agribusiness and forest-based products, logistics and shipbuilding, will be given more focus. We need also to consolidate the various industry roadmaps to further fuel the industry sector, especially manufacturing,” Economic Planning Secretary Arsenio Balisacan said.

He said that despite recent difficulties, including weak traditional markets in Europe and the United States, as well as supply chain disruptions in Japan and Thailand, the electronics industry could still contribute to the manufacturing sector.

“We see an improved manufacturing sector buoyed by the semiconductor and electronics industry as the world economy is expected to recover between 2013 and 2014,” Balisacan said. To be competitive amid challenging global conditions, the Aquino administration would focus on certain industries, including manufacturing, he said.

Trade officials agreed that the manufacturing sector could be revived, noting strong interest among foreign investors. Trade Undersecretary Cristino Panlilio said the government was also training manufacturers and exporters on how to take advantage of bilateral partnerships and free-trade agreements to boost profit and diversify their markets.

Manufacturing is widely believed to still hold promise for the Philippines even as its contribution to economic expansion fell through the years to just about a third of gross domestic product (GDP) in the first half of 2012 from a high of about 43 percent in the early 1980s. The services sector, fueled by remittances and BPOs, has taken over as the main driver of GDP growth, which further fuels consumption, according to the recent Deutsche Bank report titled “Manufacturing: A New Growth Driver.”

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

  • arao_liwanag

    Buong gabinite puro bobo walang alam kundi umasa sa buwis at OFW. Lalo na si Aquiwno.

    • GustoKoHappyKa

      Apply ka..matalino ka ata eh

  • rodben

    We don’t know who are telling the truth in media para mapaniwala ang mga  Pinoy, Sec. Balduz of DOLE said they have a market of Philippine Nurses in Belgium,so the main source of GDP are OFW’s  again in 2013.. Anyway, that’s Philippine Democracy TOO MUCH MEDIA PROPAGANDA, NOTHING IN REALITY..

    • dani77777

      to rodben,

      Baka gusto mong basahin uli yong article. Ang layo ng pinagsasabi mo.

  • http://www.facebook.com/people/Pert-Cabatana/100001481611215 Pert Cabatana

    learning from the previous weakness of our export manufacturing (dominated by low-valued-added assembly work), we must learn to generate higher-value-added operations by producing more engineering design talents and build local industrial “ecosystems”. Korea, Taiwan, China, Japan could not have built their current economic strengths without the strong engineering and R&D components.

    • rem_rod

       Tama ka dyan. For once i read a comment that has sense.

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