The Board of Investments (BOI) has unveiled roadmaps for industries engaged in the manufacturing of gifts, houseware and holiday decor to regain their footing in the international market.
The BOI said the industry blueprints presented to stakeholders in the recently held Trade and Industry Development Updates were intended to provide strategic directions leading to improved competitiveness and productivity especially among micro, small and medium enterprises (MSMEs)
“These industry roadmaps will allow our MSMEs to participate in the value chain and in the vast Asean Economic Community market,” Rafaelita Aldaba, Trade Assistant Secretary in charge of industry development, said in a statement.
Aldaba said the Philippines is known in the world for its quality craftsmanship. “Now that the industry roadmaps for these sectors are ready for implementation, the industries will have a definitive strategic guide to recover and regain its lost market share, re-develop, and achieve sustained growth.”
She said the revitalization of the lifestyle industries would pave the way for the much needed employment in the regions.
“As entering the market of these industries require minimal capitalization, many startups venture into these industries, which are composed mostly of MSMEs,” Aldaba said.
Gifts and houseware as well as holiday decor are all under the bigger umbrella of lifestyle industry. These segments depend heavily on processed agricultural crops and other industrial raw materials.
Data from the Department of Trade and Industry (DTI) showed export sales of holiday decor in 2013 grew 54 percent to $48 million.
Such high growth “signal(ed) the resurgence of the industry as markets have become more optimistic,” the DTI said.