Manufacturing

by Richmond Mercurio (The Philippine Star), May 13, 2018 MANILA, Philippines — The Philippines is in need of fresh investments that would ramp up manufacturing output as current supply capacities are hitting the limits, resulting in export losses in recent months.

by Roy Stephen C. Canivel, Inquirer, Mar 15, 2018 Foreign direct investments (FDIs) in manufacturing reached $1.15 billion worth in 2017, a jump of 244 percent from year-ago level, preliminary central bank data showed.

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By Richmond Mercurio (The Philippine Star), Mar 6, 2017 MANILA, Philippines – The Philippines’ manufacturing revival will be in full swing this year as the Board of Investments (BOI) expects the share of manufacturing projects in the agency’s total approved investments to double.

By Czeriza Valencia (The Philippine Star), Dec. 23, 2016 MANILA, Philippines – As the government institutes reforms to revive the manufacturing sector, it should also improve the regulatory regime for services needed by producers and exporters, state think tank Philippine Institute for Development Studies (PIDS) said.

Known for its vibrant services sector, the Philippines has what it takes to become Southeast Asia’s production hub once the regional integration kicks in by the end of the year, a new report said.

While it is clear that major transformation is coming to the manufacturing sector, few manufacturers are truly transforming their business models, operating structure, or supply chain in order to survive the battle.

MANILA, Philippines – The Philippines must pursue a new industrial policy to make its manufacturing sector competitive and take advantage of increased trade and investment opportunities offered by Asean market integration next year.

MANILA, Philippines – The government is aiming to increase the share of the manufacturing sector total economic output to 30 percent by 2020 from the current level of 22 percent under the Comprehensive National Industrial Strategy (CNIS).

MANILA, Philippines – The government is aiming to increase the share of the manufacturing sector total economic output to 30 percent by 2020 from the current level of 22 percent under the Comprehensive National Industrial Strategy (CNIS).

THE Philippines will have a better chance of achieving inclusive economic growth if the manufacturing sector would strengthen further, the National Economic and Development Authority (Neda) said.

MANILA, Philippines – The Philippines may now be an attractive destination for investors to set up production facilities due to its positive economic performance, but it still needs to do more to strengthen the manufacturing sector to create more jobs and achieve inclusive growth.

MANILA, Philippines – The manufacturing sector could create four million new jobs by 2022 if the government works with investors to revive low-cost labor-intensive industries as well as expand production of high-value goods, foreign and local business groups said.

THOUGH manufacturing has the potential to provide more jobs, industry leaders say that high labor and power costs continue to hinder the sector. “We have to reduce our power cost. Our labor cost is not competitive as well. These are what we should address,” said Arsenio N. Tanco, president of Coats Manila Bay, Inc., at…

One major trend in Philippine economic development is, despite rising income, the proportion contributed by industry to total output is one of relative decline. But at this stage of our development, this should not yet be the case.

The Philippine Institute for Development Studies (PIDS) said that the country’s manufacturing lag from the 1990s to 2000s caused the “boom-bust cycle” of the Philippine economy.

Fiscal, nonfiscal perks eyed to make sector more competitive Reviving the country’s manufacturing industry through new fiscal and nonfiscal policies may be crucial for the Philippines to take advantage of the opportunities presented by the establishment of the Asean Economic Community by 2015.

THE country will further develop the manufacturing and other labor-intensive sectors in an effort to create more job opportunities.

The Philippine manufacturing sector should be ready in five to 10 years as an alternative site because China, Thailand and neighboring countries will raise their wages.

MANILA, Philippines – Officials say a “rebalancing” of the key legs of growth in the country is happening. Services still accounted for half of the country’s gross domestic product (GDP) in the 2nd quarter, but the industry sector, particularly manufacturing, remained strong. Both contributed to the better-than-expected 7.5% growth in the 2nd quarter.

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.

The Department of Trade and Industry insists that private sector-led roadmaps will save this country and bring inclusive and sustainable economic growth to this nation. Here is a case where too much laissez-faire can actually kill the cow.

MANILA, Philippines – The economic benefits of the credit rating upgrade the Philippines won from global ratings firm Fitch Ratings come in two waves, businessmen and industry analysts said.

IN HIS speech at the Euromoney Philippine Investment Forum on Monday, President Aquino unveiled three priorities of his administration: agriculture, tourism, and infrastructure. I agree with the priorities, but why is manufacturing not mentioned? Manufacturing, whose share to total economic output is almost twice that of agriculture, is and could be a major contributor to…

Manufacturing remains the biggest contributor to economy at 21 percent, growing at healthy rate of nine percent, but its contribution to total growth has been reduced by the brisker growth in the services sector.

MANILA, Philippines – Manufacturing activity posted a slower growth in September from the previous month, the latest Purchasing Managers’ Index (PMI) of the All-Asian Centre for Enterprise Development Inc. (ASCEND) showed. A research note from ASCEND showed that the PMI index for manufacturing was down by 0.35 index points to 54.09 in September from the…

A Philippine-made catamaran sailing yacht made by Ces Craft Philippines. The Philippines may be on the brink of a manufacturing “renaissance” that can add a leg to its structural growth story, says the German financial giant Deutsche Bank, citing the breadth of industries from tires to boats that are expanding capacities.

Despite a five-percent pick-up in the first half of the year, the country’s manufacturing sector needs help to recover after nearly 30 years of “stagnation,” says an economic expert.

The Philippines should focus on reviving local manufacturing as the sector provides the most number of jobs, according to Aurelio Montinola, president of the Bank of the Philippine Islands (BPI). To which Economic Planning Secretary Arsenio Balisacan concurred saying that manufacturing has stagnated and has been neglected for three decades.

As it has missed out on the foreign direct investments, the Philippines has been left behind in the regional integration that led to the deterioration of the manufacturing sector.