MANILA, Philippines - The manufacturing industry will come up with a roadmap today to help the industry cope with developing challenges especially the stiff competition posed by other countries like China.
Federation of Philippine Industries (FPI) president George Chua said that during today’s Manufacturing Summit, the industry is expected to come up with details on how the government and the private sector can form a cohesive partnership that would help the sector cope with challenges.
Chua said that the manufacturing industry is faced with many problems. Aside from the external factors like the weakening of the global demand and competition from other Asian countries like Thailand and Vietnam, the high power cost is still a problem.
“One of the biggest challenge of the manufacturing industry is the high power cost. This has been the problem for many years,” Chua said.
He noted that the roadmap will provide ideas and guidance both for the private sector and the government agencies.
Chua said that the manufacturing sector will help solve the unemployment problem and the jobs need not be in urban areas.
The First Philippine Manufacturers and Producers Summit 2011 will gather policy makers, economists, academe, private and labor sectors to raise public awareness of the strategic importance of the manufacturing and producing sectors in creating inclusive and sustainable economic growth for the Philippines.
Speakers include Trade and Industry Secretary Gregory Domingo and Usec. Adrian Cristobal, Dr. Norio Usui from the Asian Development Bank (ADB) and Dr. Josef Yap of the Philippine Institute of Developmental Studies (PIDS) who will be sharing their research and insights on impact of manufacturing and producing to sustaining long term economic growth for the Philippines.
Local and foreign manufacturers and producers in the Philippines will also share their success and challenges in the domestic and export markets. Industry Representatives will share their recommendations and vision for the Manufacturing and Production Sectors of the Philippines.
The Summit also includes the FPI Sustainable Development awarding ceremony which will be spearheaded by Ernesto Ordoñez, chairman of the FPI Sustainable Development Committee.
“In organizing this summit, we want to generate discussion on advancing Philippines’ manufacturing sector and seek to create strategic collaboration between the government and private sectors. The focus is on enabling manufacturing and production to realize its full economic multiplier potential and drive jobs and growth and prosperity for Filipinos,” the FPI said.