By Gabriela Baron
Department of Trade and Industry (DTI) Chief Fred Pascual on Thursday, Jan. 19, stressed the importance of digital transformation to attract potential investors to invest in the Philippines.
Pascual joined on Tuesday the CEO Dialogue on the Philippines alongside President Ferdinand R. Marcos Jr. and other members of the country’s economic team on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland.
During the dialogue, Pascual discussed the country’s trade and investment priorities aimed at uplifting the lives of Filipinos and attracting strategic trade and investments in the Philippines, especially in renewable energy, high-tech manufacturing, and innovation sectors.
“To further attract investments in the Philippines, it is imperative that we facilitate industrial transformation that will complement our economic recovery initiatives. We at DTI consider science, technology, and innovation, including digital technologies as our main drivers,” Pascual said.
“STI [Secretary of Trade and Industry] will facilitate the development of new goods, services, and even industries; increase production efficiency, and strengthen industrial linkages,” he added.
Pascual also participated at the “MSME’s Going Global” session where he shared the government’s initiatives to assist micro, small, and medium-sized enterprises (MSMEs) improve productivity and increase market reach through financing programs, digital tools, and technology.
“One of our top priorities is to usher MSMEs’ digital transformation. Digitalized MSMEs will be able to reduce operational costs, reach larger markets, and increase productivity,” he added.
“As MSMEs grow, they contribute to our overall economic development, that is why it is important that the government empowers them.”
