The government is looking at turning the Philippines from being an “export laggard” to an “agile export powerhouse” as President Marcos Jr. approved yesterday the Philippine Export Development Plan (PEDP) 2023 to 2028 which shall serve as the blueprint for the country’s improvement of its export of goods and services in the next five years.
Secretary Alfredo Pascual of Department of Trade and Industry in a briefing after the sectoral meeting with the President in Malacanang yesterday said the Philippines lags in merchandise export but performs well in services, led by the business process outsourcing industry.
Pascual said one of the strategies in the PEDP is to undertake “firm-level” interventions that would address specific constraints, such as inability to meet orders and lack of skilled workers.
According to Pascual, PEDP was formulated in pursuant to the Export Development Act of 1994 that defined the country’s export thrusts, strategies, programs and projects, and in line with Philippine Development Plan of the administration.
Pascual said the plan aims to capitalize on export growth opportunities amid the current market trends, develop local industries, and make the Philippines a global player in terms of exports.
“It seeks to undertake an industry development-centric approach to make the Philippines a major player in the global economy and achieve sustainable development goals,” he added.
The President is expected to sign soon a memorandum circular defining and instructing the various agencies of their respective roles in the PEDP to carry out a whole-of-government approach in implementing the program.
Pascual said the PDEP includes three strategic actions to develop the export clusters, namely: addressing production constraints; developing a strong innovative export ecosystem; and increasing the Philippines’ mindshare in the global market.
He said this aims to help the country’s businesses and exporters to identify and produce products that can compete in the world market are would help, provide training and technology to produce the right product, ensure that exporters observe the right regulation and meet the requirements, and increase awareness about the Philippines and its products among the target export markets through trade fairs and expos and promotions abroad including during presidential visits.
Pascual said the PDEP also identified four priority industry clusters where the Philippines can achieve substantial export growth which include: industrial machinery and transport; technology, media and telecommunications; health and life sciences; and, modern basic needs of a resilient economy.
