DTI bares comprehensive industry dev't strategy

MANILA, Philippines - The Department of Trade and Industry (DTI) has announced the development and consolidation of industry roadmaps to further boost the country’s competitiveness.

In a statement, DTI said the department is working on a comprehensive industry development strategy for the Philippines. The agency promised to work towards consolidating industry roadmaps to help identify the key strategies, investment requirements, and the required policy support to increase competitiveness and sustain economic growth.

Among 142 countries, the Philippines ranked 75 in the World Economic Forum’s Global Competitiveness Report (GCR), up by 10 notches from the previous year. The WEF cited the Philippines as one of the biggest improvements in its 2011 report.

The industry development plan is also based on the clamor of the different business chambers in the country for the government to come up with a comprehensive industry development plan.

The DTI will be partnering with the private sector through the National Competitiveness Council (NCC), Federation of Philippine Industries (FPI), Joint Foreign Chambers of the Philippines and other business chambers to achieve this goal.

The existing growth industries that the DTI cited are the electronics, ICT/BPO/call centers, shipbuilding, steel fabrication, mining, and plantation farming.

The second category of industries, mostly SMEs, are the agribusiness, tourism, processed food, handicraft and  manufacturing businesses - industries that could help boost job generation in the countryside. The third category of industries with large scale potential are car/tire manufacturing, bamboo, palm oil, rubber, corn, and prawn farming, among others.

The agency said most mature industries, such as the IT/BPO and semiconductor and electronics industries, have their roadmaps in place and that the DTI will help the growing industries develop their respective roadmaps.

DTI’s public consultation series on trade policy “One Country, One Voice” held in key cities in the country and consultations with different business chambers surfaced the need for a comprehensive industry development plan. The DTI cites the public consultation series as instrumental in developing partnerships with the agency’s stakeholders and in developing initiatives for better governance.