With evolving global economic and political landscapes, the Philippine government has prioritized economic reforms and incentives aimed towards foreign investment in its efforts to establish the Philippines’ role as a key player in the global supply chain. However, this approach excludes domestic enterprises and those mainly serving the domestic market. Advancing the development of the local manufacturing sector would boost productivity, enable the affordability of goods, and generate more jobs. If given more support by the government, the country’s manufacturing sector can provide income security, alleviate poverty, and revitalize consumer spending to ensure the upward and stable growth of the economy.
Data from the Philippine Statistics Authority (PSA) shows that the manufacturing sector was responsible for the employment of 174,000 Filipinos over the last year – making it the second highest sub-sector with the highest increase of employed persons during the second half of 2022. The manufacturing sector is expected by industry watchers to experience more growth following reports of production volume and value that jumped to double digit levels as of January 2023.
With firms now having their moving capacity at pre-pandemic levels, there is a need for investments in the manufacturing sector to meet the growing demands of consumers. Investments in the manufacturing sector will bring about innovation and transformation to create a better Philippines – a country with more job opportunities and trained workers that produce goods that will keep the Philippines globally competitive. Setting up an advanced manufacturing operation requires a significant investment in infrastructure, workforce, and knowledge capital. However, the returns on investment can be substantial, with a fully developed manufacturing sector providing more stable financial security for the Philippines after the pandemic.
This event gathered key government, the business community, and academic stakeholders to share their insights on strengthening the country’s manufacturing sector while advancing the workforce pipeline and developing human capital to build a future-ready Filipino workforce.
Introduction and Opening Remarks
Prof. Victor Andres “Dindo” C. Manhit
President, Stratbase ADR Institute
Upgrading Industries Towards Inclusive and Sustainable Development
Hon. Rafaelita Aldaba
Undersecretary, Competitiveness and Innovation Group,
Department of Trade and Industry (DTI)
Promoting Investments for Job Creation: Key to Sustained Economic Recovery
Mr. Sergio Ortiz-Luis, Jr.
President, Employers Confederation of the Philippines (ECOP);
President, Philippine Exporters Confederation, Inc. (PHILEXPORT)
Incentivizing Businesses for Sustained Growth and Expansion
Mr. Michael Arcatomy Guarin
Vice President for Internal Affairs, Financial Executives Institute of the Philippines (FINEX)
Public Perception on Strengthening the Manufacturing Sector to Accelerate Economic Growth
Dr. Ronald Holmes
President, Pulse Asia Research, Inc.
Driving Wealth Generation in the Philippines
Mr. Andrew Masigan
Political and Economic Columnist, Philippine Star and BusinessWorld
Host & Moderator:
Ms. Mary Joyce Ilas
Communications and Advocacy Lead, Stratbase ADR Institute