By Alec Go
Trade Secretary Alfredo Pascual announced Tuesday that President Ferdinand R. Marcos Jr. has approved the proposed Philippine Export Development Plan (PEDP) 2023-2028, a measure to capitalize on export growth opportunities among local industries.
Pascual said the plan, approved with “some couple of additions,” seeks to make the Philippines a key player in the global economy and to make it meet sustainable development goals.
“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,” he said, citing the need to address production constraints.
“By promoting investments, facilitating trade and developing key industry clusters, the plan aims to achieve substantial export growth and establish the Philippines as a producer of high value products and services,” he added.
The DTI chief said the PEDP will also focus on industry-level intervention to boost sectors, as well as firm-level interventions to meet their needs and potential to pursue export.
“The export competitiveness of the Philippines lies in the competitiveness of the firms themselves…So we must develop reliable, design-driven, technology-driven, sustainable and forward looking exporters to become or to make the Philippines an agile export powerhouse,” he said.
Malacañang said President Marcos Jr. is expected to sign a memorandum circular to set the roles of government agencies in the PEDP.
Pascual said the PEDP may also address the current status of the country which has become a “laggard” in terms of exports.
Among the strategies in the PEDP are addressing production constraints, developing a strong innovative export ecosystem, and increasing the Philippines’ mindshare in the global market. – gb
