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DTI reveals new industrial strategy More jobs, investment opportunities ahead
MAKATI—To create globally competitive, value adding, innovative and inclusive industries is the main objective of the country’s new industrial strategy, the trade and industry chief declared. Speaking on the first day of the Manufacturing Summit 2016 yesterday (28 November), Department of Trade and Industry (DTI) Secretary Ramon Lopez emphasized that the new strategy focuses on industries where the Philippines has existing and potential comparative advantage to generate employment and promote entrepreneurship. The new strategy’s top five industry priorities include manufacturing, agribusiness, information technology-business process management (IT-BPM), tourism and infrastructure and logistics. “This industrial strategy is the best way to uplift the lives of Filipinos towards the goal of sustainable inclusive growth and shared prosperity for all. This is needed not only to generate jobs and reduce poverty but also to take advantage of market opportunities,” said Sec. Lopez. Citing the country’s positive economic outlook as the fastest growing economy in Asia with sustained strong macroeconomic position at 7.1% recorded growth in the third quarter of 2016, the trade chief shared that the Philippines outpaced other countries like China (6.7%) and Viet Nam (6.4%) and fared above average consensus forecast of 6.8%. While services industry was the main driver of the country’s growth in past decades, the manufacturing industry has been playing an important role, and has been contributing substantially to economic growth since 2013, according to him. In the third quarter of 2016, manufacturing grew by 6.9% or more than one percent point higher that the rate posted in 2015 at 5.8%. He also said that the manufacturing sector presents opportunities to provide productive jobs to low-skilled, medium-skilled and... read moreBohol Hosts OCEAN 16 Summit
The Province of Bohol hosted the Open Collaboration of East Asia New Champions 2016 Summit (OCEAN 16) on November 24-26, 2016 at the Be Grand Resort in Panglao, Bohol. Thought leaders and movers from the Philippines, the ASEAN, the US and the UK joined the summit which tackled breakthroughs in technology that are fundamentally transforming whole systems of production, management, and governance. These transformations aid societies overcome challenges from business and energy, to transportation and climate change. The so called “Fourth Industrial Revolution” or “Industry 4.0,” was the main theme of the summit and this presents an opportunity for the Philippines not only to keep up with more advanced nations, but also solve urgent problems plaguing the country. This revolution is the fusion of electrical and digital systems with physical and biological systems and is made possible by the proliferation of the Internet and mobile devices. In various panels during the summit, the topic of the startup ecosystem in the Philippines was discussed. The issues on connectivity and access to funding was also tackled. Winston Damarillo, chief organizer of the event, said that the Philippines should not try to become the next Silicon Valley but instead tackle the unique issues in the country and create businesses that solve these issues. The event kicked off with a discussion on “Understanding the Future of Cybersecurity” and a Sunset Welcome Cocktail Event on November 24. On the second day, November 25, Damarillo delivered the opening keynote and facilitated teh opening plenary session with the moderators of the various panels. There were two tracks of the panels and the topics include “Sustainability at... read more
Lopez calls for an MSME-friendly IP regime
Reiterates relevance of innovation in MSME development MAKATI—Instead of rebellion, an innovative, inclusive entrepreneurial revolution is what the Philippines currently needs, the country’s trade chief said. Speaking at the launch of the National IP Strategy of the Philippines (NIPS) on 30 May, Department of Trade and Industry (DTI) Secretary Ramon Lopez endorsed the new strategy for intellectual property (IP) protection that can help incentivize existing and aspiring Filipino micro, small and medium entrepreneurs (MSMEs) to contribute in developing a more innovative, creative and economically-dynamic Philippines. “In today’s knowledge economy, intellectual property is undoubtedly an invisible advantage,” said Sec. Lopez, referring to IP as an important vehicle that spurs economic growth, which can help the government in its thrust to alleviate poverty and to realize shared prosperity for all. With the new IP protection strategy, the government lays the foundation to address the need to safeguard original, innovative and creative ideas of both MSMEs and bigger stakeholders against different forms of IP theft and piracy. According to the trade chief, without the protection and recognition of a well-functioning IP system, innovative and creative undertakings may be impeded, slowing down the steady stream of competitive products and services in the market. IP and innovation Sec. Lopez said that there is a need to assess research and development initiatives if the Philippines wants to become an active player in the innovation game, adding that innovation is a potential area of improvement where the NIPS strategies would be relevant. “Innovation should not only be for the big guys. We have to make innovation as a general mindset for our MSMEs,” he...No Results Found
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