TRADE & INDUSTRY UPDATE: Development goals and needs of three Philippine industries – manufacturing, chemicals, and copper – were discussed during the Trade and Industry Development Updates forum on August 13, 2013. The three industries were the first batch of over 30 industries for which the Department of Trade and Industry (DTI) has drum up medium- and long-term plans to guide in policy-making, especially in reviewing Executive Order 61 on import duties. Agribusiness, tourism, and manufacturing, have top government priorities. Manufacturing is the heart of industry growth, with its huge supply chain and economic impact, including the development of the copper and chemical industries. Three development phases have been drawn up for manufacturing until 2025. The first phase (2014 to 2017) will rebuild the capacity of existing industries and strengthen emerging ones. The second phase (2018 to 2021) will shift manufacturing to high value-added activities and integrate with micro, small, and medium enterprises to enhance inclusiveness. The third phase (2022 to 2025) will make manufacturing the hub in Southeast Asia for automotive, electronics, garments, and food. The chemicals industry has a three-phase development plan: By 2016, it will establish the Chemical Industry Council, integrate petrochemicals and target $5 billion in exports. By 2022, it will diversify and expand into the Association of Southeast Asian Nations (ASEAN), improve domestic feedstock, and expect $10 billion in exports. By 2030, local chemicals will be the third-largest export, with $30 billion in revenue. The copper sector will strengthen ties with global copper organizations by 2014. It will be included in the 2014 Investment Priorities Plan to provide direction on open pit mining and on mining economic zones. BOI reported that manufacturing grew by 20.4% in the first quarter of 2013 and drew R3.4 billion worth of investments. It is preparing for ASEAN Economic Integration by 2015.

Bolstering Philippine Trade and Investment | Tempo - News in a Flash: "The Manila Bulletin, led by its Chairman of the Board of Directors Dr. Emilio T. Yap, President and Publisher Atty. Hermogenes P. Pobre, Executive Vice President Dr. Emilio C. Yap III, Editor-in-Chief Dr. Cris J. Icban Jr., Business Editor Loreto D. Cabañes, Officers and Employees, congratulate the Philippine Government, headed by H.E. President Benigno S. Aquino III and Vice President Jejomar C. Binay, Department of Trade and Industry Secretary Gregory L. Domingo, Board of Investments Managing Head Undersecretary Adrian S. Cristobal Jr., and Philippine Institute for Development Studies President Dr. Gilberto M. Llanto, in their collective efforts to identify interventions, policies, and strategies for trade and investment that will improve the global competitiveness of industries in the Republic of the Philippines. CONGRATULATIONS AND MABUHAY."

'via Blog this'