Trade Secretary Ramon Lopez is urging business firms, especially the micro, small and medium enterprises (MSMEs), to provide quality products or services to stay competitive amid the latest industrial revolution.
“Business firms and government agencies need to be conscious of the link between quality and competitiveness. This is the only way for our country to remain relevant and move forward, especially in the Fourth Industrial Revolution or Industry 4.0,” he said.
Lopex reiterated the need for the country to build a competitive industrial sector to become competitive as other players in the world are allowed to bring their products and services in the Philippines.
Lopez cited the growing trade deficit, which he attributed to lack of supply in the domestic production given the growing economy, thus the country tends to import these products or even services.
“We, the Philippines, would have to build robust industries and expand our domestic capacity. Without these, we would rely on imports. Thus, our emphasis is on building an infrastructure. We term is as i3S-Inclusive Innovation-led, Industrialization Strategy,” he said.
i3S aims to grow and develop globally competitive and innovative industries with strong forward and backward linkages.
Lopez identified core products as electronics, automotive, aerospace, chemicals, shipbuilding and all the other industries.