The Board of Investments (BOI), the industry development and investments promotion arm of the Department of Trade and Industry (DTI), recently convened the Executive Committee (Excom) of the Industry Development Council (IDC) to fast track the implementation of policies and measures to improve industry competitiveness.
“We are focusing our efforts on improving the competitiveness and productivity of all sectors to enable them to further develop and seizethe opportunities in the domestic and strategic markets beyond our borders. The IDC’s thrust will be directed towards the implementation of the Comprehensive National Industrial Strategy (CNIS),” said DTI Undersecretary and Managing Head of BOI Dr. Ceferino S. Rodolfo.
The CNIS is a blueprint for the overall industrial development strategy that integrates the country’s agriculture, manufacturing, and services sectors. It will initially focus on manufacturing, infrastructure and logistics, tourism, Information Technology and Business Process Management (IT-BPM), and agribusiness.
“Pursuing this will help us achieve high-level and inclusive growth, create more and better jobs, increase global trade and investment flows, and further integrate into the regional market,” said Rodolfo.
In the last couple years, DTI has been building the foundation of the CNIS through the Industry Roadmaps Project (IRP) and the Manufacturing Resurgence Program (MRP) to address the most binding constraints to industry development and to revitalize the industrial sector of the economy.
“We are continuously working with our stakeholders, particularly the private sector, to implement these initiatives that fill the gaps in the supply chain and allow our industries to flourish,”said DTI Assistant Secretary Rafaelita M. Aldaba. She added that the implementation of programs and initiatives under the CNIS will be led by the private sector while the government will serve as an enabler and facilitator.
In order to further advance these industry development initiatives forward, the IDC proposed an Executive Order (EO) to formalize the council which has been convening on a regular basis and to include representatives from the private sector, labor sector, research institutes, and civil society groups. The EO is currently awaiting the signature of the President Benigno Aquino III.
“Having a formal institutional mechanism on all policies, programs, and initiatives of the Philippine government will support our moves to implement and advocate for initiatives that develop globally competitive industries,” said Aldaba.
The IDC, chaired by DTI, was created on December 2, 1996 by virtue of E.O. 380 signed by then President Fidel V. Ramos. It was further amended on April 12, 2000 by E.O. 225 which expanded its mandate to respond to current realities and challenges of industry development in the country.
The third IDC meeting will be held in June 2016.