More investors are encouraged to pour in their money into the country’s key domestic sectors, which are being developed amid their potential to contribute to employment generation and rapid and sustained economic growth.
Socioeconomic Planning Secretary Arsenio Balisacan said these sectors include manufacturing, agribusiness, tourism, information technology-business process management (BPM), logistics and construction.
Balisacan said the manufacturing sector accounted for an average of 32 percent of the country’s quarterly gross domestic product (GDP) growth from the first quarter of 2013 to the second quarter of 2014.
He said the food and electronics manufactures remain the top performers, while there are also bright prospects for automotives, non-metallic manufactures and other heavy manufactures.
“Continued robust performance of the manufacturing sector makes it a good venture,” he said in a business forum.
Balisacan, the National Economic and Development Authority (NEDA) Director General, said there is also a bright prospect in agribusiness as the country continues to increase forward linkages of agriculture to the industry and services sectors.
“The government is keen on expanding existing markets, exploring new markets, and linking small-holder farmers to these value chains and commodity clusters,” he said.
Balisacan said that investments in the IT-BPM sector will likewise remain profitable.
“The country strives to remain as the leader in voice BPM services while it also continues to nurture the Filipino talent pool needed for higher-value IT-BPM services,” he added.