By Dean Aubrey Caratiquet
Moving beyond the geographical boundaries of the Philippines, President Ferdinand R. Marcos Jr. has made significant strides in fortifying alliances with like-minded nations, leveraging decades of bilateral ties to bring about mutually beneficial progress.
This international camaraderie paid great dividends, especially during the onset of the Middle East crisis, which saw an influx of countless barrels of fuel to augment domestic supply and lower the then-triple-digit prices in fuel stations.
On the other hand, this has also culminated in the creation of economic agreements such as the Regional Comprehensive Economic Partnership. As of press time, Manila has 23 free trade agreements either in force or under active negotiations with other countries.
President Marcos Jr. shared in his State of the Nation Address (SONA) on Monday, “We have also maintained export competitiveness for our indigenous farm products, such as ube (purple yam), coconuts, bananas, and other tropical fruits. And we have now ventured into new and viable ones, like enoki mushrooms.”
Apart from bountiful exports and being a key player in supplying components to top technology companies in the world, the Philippines continues to enjoy an influx of foreign investments, citing policies such as Green Lanes for Strategic Investments that are conducive for businesses and stakeholders alike.
Moreover, ecozones are set to rise in strategic areas nationwide such as in Dumaguete, Misamis Oriental, and Palawan, further leveraging the country’s premier position on the map as a viable site for emerging industries such as pharmaceuticals, advanced manufacturing, luxury goods, technology, and logistics to flourish.
The President expounded, “Additionally, a product of the 23-member strong and U.S.-led Pax Silica Initiative, the Pax Silica Industrial Hub will create an ecosystem that will have AI at its core. It will bring quality jobs to our people, accelerate our industrial competitiveness, and revitalize our economy.”
Once completed, the facility will form part of the Luzon Economic Corridor, which would drive further growth that is unhampered by the confines of established metropolitan regions like the National Capital Region (NCR) and its adjacent provinces.
The Chief Executive concluded by announcing the rise of a spaceport in Cagayan through the partnership with a South Korean aerospace company, with the facility set to conduct a rocket launch test next year.
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