THE PHILIPPINES and other countries that have moved from agriculture to services must reassess the importance of manufacturing in their economies and are urged to look at developing higher-productivity and complementary services, a new report from the Asian Development Bank (ADB) said.
In its Key Indicators for Asia and the Pacific 2013 report, the ADB noted, “economies that have failed to industrialize in employment (e.g. Bangladesh, India, Pakistan, and the Philippines) and are undergoing a transition from agriculture into low-productivity services need to reassess the importance of industrialization.”
“An advanced and sophisticated manufacturing sector is key for developing advanced complementary services sectors (e.g., logistics, transport, and finance). Such countries may wish to consider continuing to develop these more productive segments of the service sector, while not neglecting manufacturing,” the report said.
“In this sense, the Philippines needs to complete and implement successfully its manufacturing road map,” it added.
Services currently make up the largest sector in the economy and employment, according to data gathered by the ADB.
The Trade department is in the process of creating industry road maps to develop various sectors. The manufacturing road map was released Aug. 13.
Industry groups and government agencies are now meeting to determine the best way to implement the master plans.
The ADB said that the Philippines failed to capitalize on manufacturing due to incoherent policies, especially as it remains constrained by “narrow export specializations.”
“The reasons include macroeconomic policies, flawed incentive structures, and lack of nationalism among the ‘captains’ of industry. In addition was the discord in trade, investments, domestic regulation, human resources, and science and technology policies that were supposed to complement the industrial programs during the 1960s-1980s,” the report said.
It added that the overall lack of policy coherence during the 1980s “as well as poor implementation left the Philippines with a much weaker economic structure than that in some of its neighbors.” — Emilia Narni J. David, Businessworld
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
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Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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