And experts are hoping that the Philippines will be able to take advantage of the fruits of the New Southern Policy Plus, Republic of Korea’s President Moon Jae-in’s initiative to deepen South Korea’
s engagement with ASEAN and beyond, encompassing diplomatic, economic, socio-cultural, and strategic areas.
The priority areas of the program include public health, education and human capital development, cultural exchanges, trade and investment, infrastructure development, future industries, and non-traditional security issues such as environment, climate change and marine waste. The country should instead develop policies for long-term, inclusive economic recovery by focusing on the need for investment-driven growth, Manhit pointed out.
Special economic zones, he said, should be strengthened to accommodate manufacturing companies that wish to relocate to the Philippines, followed by efforts to ease the cost of doing business as the pandemic speeds up change through automation.“I see a real opportunity with NSP Plus moving forward and it can only focus on key issues that are confronting the Philippines as we try to recover from this pandemic,” the expert said.