MANILA, Philippines - The Federation of Philippine Industries Inc. (FPI) is urging industries that have yet to prepare road maps to come up with their own in line with the aim of promoting the growth of the country’s manufacturing sector.
In a telephone interview, FPI director Roberto Batungbacal said they would like other industries to come up with their own road maps, in order to identify issues, policy interventions and other actions needed for them to grow.
“We feel good about planning and we want to encourage others to come up with their own road maps,” he said.
He said preparing road maps has allowed many industries to identify the challenges they face as well as the issues they would want to be addressed.
While more than 40 industries have committed to work with the government to craft road maps, he said not all have undertaken the exercise.
If others would do it, it would not only be beneficial for the industry involved but would also contribute in determining the next steps needed to grow all industries involved in the manufacturing sector.
Encouraging other industries to plan and make their own industry road maps is among the objectives of the FPI’s 2nd Philippine Manufacturers and Producers Summit to be held on Nov. 22.
Apart from encouraging the crafting of road maps by those that have not undertaken such, Batungbacal said the summit which will gather industry associations, government officials, as well as representatives from the academe, financial institutions and utilities, also seeks to monitor the progress made in revitalizing the manufacturing sector as well as drawing up actions that are still needed.
The event will not only serve as a venue for stakeholders to conduct discussions but also to assess efforts taken to fight smuggling, an issue often raised by manufacturers which is hurting their businesses.
The government has been meeting with industry associations as it is in the process of preparing an integrated road map for the manufacturing sector.
The Department of Trade and Industry (DTI) launched the industry road map initiative early this year to ensure stakeholders are consulted in promoting the growth of the industries.
The initiative was likewise launched in line with the aim of growing the country’s manufacturing sector and increasing its contribution to the total economic output.
At present, the manufacturing sector accounts for 21 percent of the country’s gross domestic product (GDP).
Beefing up the manufacturing sector is expected to create more jobs as well as make growth more inclusive.