President Ferdinand R. Marcos, Jr. said he views building up manufacturing to be a key prerequisite to growing the export sector.
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“If the manufacturing operations , we can also export,” he said in a latest video blog. “That’s a big help because we can expand our business to other countries.”Philippine manufacturing, as measured by the volume of production index, expanded 4.8% year on year in December, the weakest gain since the 4.6% reading in September, according to the Philippine Statistics Authority.Mr. Marcos said cheap and reliable energy was also key to boosting factory output.
These sectors include high-value manufacturing activities such as electric vehicle assembly, battery manufacturing and mineral processing. “We want to attract foreign investors to do a higher value activity mineral processing, and then attract battery manufacturers and eventually the EV assemblers and EV manufacturers.”The government has so far registered more than P400 billion worth of investments this year, much of it related to the RE sector, she noted.
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