Philippines unveils action plan to transform into agribusiness hub
This hub approach, which was revealed by the trade secretary, will also cover manufacturing and services in a bid to transform the country into a regional powerhouse.
“[It] links the manufacturing sector with the agricultural and services sectors. In the process, forward and backward linkages will be strengthened, supply chain gaps will be addressed and the industries’ participation in the global and value chains will be deepened,” said Adrian Cristobal Jr at a presentation in Manila.
While the Filipino agriculture sector has been in decline in recent years and manufacturing has remained stagnant, the services sector has emerged as the backbone of the Philippine economy.
“We should be able to lift these sectors—with agriculture as source of inputs and services as the enabling element—to support broad-based sustained growth in manufacturing,” Cristobal said.
“Eventually, we would like to see a Philippines manufacturing sector that is inclusive, with micro, small and medium enterprises at the front and centre of business activities in the Philippines. A manufacturing sector that is likewise expansive to conquer not just the local markets but also strategic markets beyond our borders.”
The plan also sets out to transform and upgrade agriculture from traditional farming to a globally competitive agribusiness sector.
Globally competitive services, meanwhile, is projected to create quality jobs, move up the value chain, and enable structural transformation.
