Trade and Industry Secretary Alfredo E. Pascual said the Philippines should reconfigure its exports into industry clusters and strengthen global value chain (GVC) participation to become more attractive to investors.
Trade and Industry Secretary Alfredo E. Pascual said the Philippines should reconfigure its exports into industry clusters and strengthen global value chain participation to become more attractive to investors.
In the report, WB said it is hopeful that the Philippines can take advantage of the new dawn for GVC industry clusters by repositioning itself and enhancing its participation in the global context of reconfiguration. Pascual said that implementing an inclusive, sustainable, and resilient industrial policy is imperative for building a more competitive economy, and through science, technology, and innovation and essential digital technologies, industries will be better positioned to face competition in both domestic and export markets and pave the way for industrial transformation.
“In terms of policies to make the Philippines an attractive destination for FDIs, we are implementing recently-passed laws or reforms that either ease foreign ownership restrictions or incentivize investments. These include the CREATE Act, amendments in the Public Service Act and Foreign Investment Act, and the Retail Trade Liberalization Act. CREATE, in particular, is supported by the Strategic Investments Priorities Plan .
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A nation that reads is a nation that thrives - BusinessMirrorSince pandemic restrictions have eased up a bit, we have witnessed a flurry of activities in the realm of publishing, culture, arts and literacy. I would like to believe this means that more Filipinos are into the arts, specifically publication and reading. It’s true that we need to step up our game as far as
Read more »
Win, Robin seek Senate hearings on PH energy self-sufficiencySenator Win Gatchalian has filed a Senate resolution seeking to establish the oil and gas potential in the West Philippine
Read more »
Urban poor commission vows to focus on working with LGUsIn a bid to strengthen its partnership with LGUs in NCR and Luzon, (PCUP) is set to host its first LGU Forum on Oct. 25 to present its projects for 2023 and programs for its upcoming Urban Poor Solidarity Week in December. READ:
Read more »
Cultural communities come together to celebrate life and honored traditionsWhat is most admirable about members of cultural communities is their resolve to strengthen the hold and relevance of their time honored practices and traditions that defy the onslaught of modernization and technology, and even the pandemic. READ:
Read more »
4 Ways to improve your mental healthBeing in this coronavirus pandemic for three years now, it's hard to dismiss the need to improve and strengthen our mental health on top of our physical health.
Read more »