The Board of Investments (BOI) recently held discussions with the Executive Committee of the Industry Development Council (IDC) on how to fast track the implementation of policies and measures under the Comprehensive National Industrial Strategy (CNIS) to improve industry competitiveness, the BOI said.
The CNIS is the country’s blueprint for an overall industrial development strategy that will integrate the agriculture, manufacturing and services sectors. Its initial focus will be on five main sectors: manufacturing, infrastructure and logistics, tourism, information technology and business process management (IT-BPM), and agribusiness.
“We are focusing our efforts on improving the competitiveness and productivity of all sectors to enable them to further develop and seize the 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],” Trade Undersecretary and BOI Managing Head Ceferino Rodolfo said.
“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,” Rodolfo added.
It was only at the end of March when the DTI unveiled the CNIS, which took most of three years to produce. The CNIS was created through inputs from 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,” Trade Assistant Secretary Rafaelita M. Aldaba said.
She said the private sector will lead the implementation of programs and initiatives under the CNIS, while the public sector, primarily the DTI and BOI, will serve as enabler and facilitator.
To move the industry developments initiatives forward, the IDC has proposed an Executive Order (EO) that will form a council to convene on a regular basis and will include representatives from the private sector, labor sector, research institutes, and civil society groups. The EO is currently awaiting the signature of the president.
“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,” Aldaba said.
Established on December 2, 1996 through EO 380 by then-President Fidel Ramos, the IDC is a public-private sector group chaired by the DTI, which is mandated to respond to the current realities and challenges of industry development in the country.
A third IDC meeting will be held in June.