DTI: Marcos OKs proposed export plan that takes industry development approach

President Ferdinand "Bongbong" Marcos Jr. approved the Philippine Export Development Plan that aims to capitalize on export growth opportunities, Department of Trade and Industry Secretary Alfredo Pascual said on Tuesday.

At a Palace press briefing, Pascual said the DTI proposed the plan to the President during a sectoral meeting.

"This defines the country’s export thrusts, strategies, programs and projects. And we sought the President’s approval which we got with just some couple of additions to the plan," Pascual said.

"Our proposal is actually in line with the Philippine Development Plan which was earlier released by the administration. This export development plan will capitalize on export growth opportunities considering market trends and the available or existing competencies in the Philippines among our industries," Pascual said.

According to Pascual, the export plan seeks to undertake an industry development centric approach "to make the Philippines a major player in the global economy and achieve sustainable development goals."

"In the past, we simply do policies at the macro level that applies to the whole economy. But what we are proposing in the Export Development Plan is industry-level intervention or policy issuances that will support sector development," he said.

"And even beyond that, we are also proposing firm-level interventions because we believe that we need to work closely with individual firms to be able to take care of their needs as they venture into potential export business for their companies," Pascual added.

Pascual said the export competitiveness of the Philippines "lies in the competitiveness of the firms themselves," noting that the country lags behind neighboring countries when it comes to exports.

"We can consider ourselves as ‘laggards’ currently so this plan will help us uplift the government’s—I mean, the Philippines’ performance in exports. It may not be to… yet match the levels achieved by the more progressive neighbors that we have but it will certainly improve the volume of our exports," Pascual explained.

He said the Philippines could be considered as "laggards," as there are firms that are not able to come up with the quantity and quality of exportable products.

Pascual said the plan outlines three strategic actions to develop the export clusters, including addressing production constraints; developing a strong innovative export ecosystem; and increasing the Philippines’ mindshare in the global market.

In this plan, Pascual said four industries would be prioritized including industrial machinery and transport cluster..., media and telecommunications, the health and life sciences cluster, and the modern basic needs of a resilient economy. — DVM, GMA Integrated News