Marcos to boost industrialization , job creation
PARTIDO Federal ng Pilipinas (PFP) presidential candidate Ferdinand ‘Bongbong’ Marcos said he would accelerate the industrialization of crucial sectors in the country to create more jobs for Filipinos when he wins in the upcoming 2022 polls.
In an interview with local radio station DZRJ, Marcos said that the next administration should spur economic development by pursuing an industrialization program similar to what was done by his father, former President Ferdinand Marcos, in the 70s.
“The next administration will have to revive the industrialization drive that was started in the 70s. We have to continue that. If you look at the history of our wealthy neighbors, they became economically strong because of trade,” Marcos said.
“We are at present very dependent on the service sector. That is something we need to address very, very clearly, and manufacturing is a very important part of that,” he added.
According to 2021 data, the agriculture sector accounted for 10% of the country’s Gross Domestic Product (GDP), while the industrial and services sectors accounted for 30.8% and 60%, respectively.
The manufacturing industry also employs over 3.2 million individuals based on 2016 data from the Department of Trade and Industry (DTI).
The UniTeam presidential bet also underscored the importance of expanding our selection of export products to increase trade with other countries.
“If the manufacturing sector has shrunk then we really have to go back and redesign that part of our economy for the simple reason that if we want to be involved in trade, then we have to have something to trade with,” the presidential frontrunner said. With Blessie Amor Vicente and Joanne Rosario (OJTs)
