Strengthening the Manufacturing Sector will greatly contribute to the country’s economic development; it processes raw materials into finished goods with the help of machinery, tools, and human labor, generating more jobs and global competitiveness.
Furthermore, President Ferdinand R. Marcos, Jr. foresees building up manufacturing to be a key prerequisite to growing the export sector. The Presidential Communications Office (PCO) said the Marcos government is making the said sector “innovative and sustainable.” They also strongly promote the nation’s priority sectors, such as green, innovative, and sustainable manufacturing and services, to attract more foreign investors, resulting in the exchange rate’s stability and creating a competitive market.
Just last November 2022, the International Labour Organization (ILO) stated that the Philippines has the possibility to increase jobs in the manufacturing sector as the economy is still recovering from the impact of the Covid-19 pandemic. JVL