Manila, Philippines – Emerging markets in Asia, including the Philippines, are expected to contribute more to the global economy in the coming years. During sectoral consultations held among the local industries, renewed optimism was noted in the country’s trade and investment performance and competitiveness in the global markets.
In the consultations conducted by the Department of Trade and Industry for the Strategic Industry Development Program, more than 30 industries committed to formulate roadmaps to identify opportunities that would develop a more productive and skilled workforce.
These industries include; air logistics for cargo, copper and copper products, rubber and rubber products, fine jewelry, auto parts, tool and metal casting, coconut and coconut products, hogs, poultry, coffee, medical travel and medical tourism, retirement industry, flat glass plastics, paints and coatings, printing ink, garments and textiles, chemicals, motorcycle and motor parts, iron and steel, automotive, petrochemicals, handicrafts, furniture, business process outsourcing, hotel, mass housing, engineered bamboo, and biodiesel.
A development roadmap is basically about good planning in all areas that can contribute to a successful business. Roadmaps make sure businesses have the right resources and capabilities at the time they are needed. Roadmaps also reveal gaps in company, product and technology, before they become problems. By focusing on customer needs, product drivers, or technology investments, roadmaps direct development teams and corporate management.
Like most of Asia, the Philippines is transitioning from being a global producer to a global consumer. With the appropriate roadmaps for local business, the Philippines can have a greater shared prosperity which will provide the business funds for better productive activities in the country. MABUHAY!
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