The Philippine Development Plan 2011-2016 pursues an overall economic objective for inclusive growth. This means "growth that is rapid enough to matter, given the country's large population, geographical differences, and social complexity. It is sustained growth that creates jobs, draws the majority into the economic and social mainstream, and continuously reduces mass poverty."
Towards the achievement of this objective, the current Government will prioritize massive investment in physical infrastructure and operate on the principle of transparent and responsive governance.
For more information on the PDP 2011-2016, please refer to www.neda.gov.ph
Better tax collection and more rational budget allocation will generate funds for infrastructure investment. To implement the bulk of its infrastructure program though the Government will rely on Public-Private Partnership (PPP) schemes. This scheme will encourage the large sector of private business, including major Filipino conglomerates and large and reputable foreign partners, to participate in financing, construction, and operation of key infrastructure projects.
For more information on the PPP, including bidding on projects, please refer to http://ppp.gov.ph/
Further to the PDP 2011-2016, the Government will give priority to the development of areas that have the highest growth potentials and generate the most jobs. These are tourism, business process outsourcing, mining, agri-business and forest-based industries, logistics, shipbuilding, housing, electronics, and infrastructure.
It's more fun in the Philippines! Launched recently, this campaign of the Department of Tourism is geared towards significantly increasing the number of visitor arrivals beginning in 2012.
Investments required in the tourism sector include infrastructure development and capacity expansion and modernization in the accommodation and recreation sectors.
Business Process Outsourcing
The Philippines leads its global competitors in the call/contact center services. In the non-voice sector, the Philippines is positively positioned for growth in back office/ Knowledge Process Outsourcing (KPO), IT outsourcing, Engineering Services Outsourcing (ESO) and software development, design process delivery, medical transcription, animation and game development.
In 2010, the BPO industry has attained its US$9 billion revenue target. KPO, which includes research, analytics and legal services, doubled its growth in revenues from US$400 million in 2007 to US$830 million in 2008.
According to the Mines and Geosciences Bureau (MGB), some nine million hectares of the Philippine total land area is geologically prospective for metallic minerals. Gold, copper and nickel are in abundance - and the aim, based on the PDP 2011-2016, is for the "generation of more investments in mining and mineral processing and mineral-based manufacturing industries (as) key to doubling exports by the sector by 2016."
For more information on mining and minerals development, please refer to www.mgb.gov.ph
Agri-business and Forest-based industries
Agro-based exports of the Philippines include, among others, fresh and processed food: (a) fresh fruits - banana, pineapple, mango, papaya and okra; (b) preserved fruits; (c) beverages; (d) processed marine products - tuna, shrimps.
The Philippines is also in abundant supply of coconut - a source for food and non-food products.
The Philippines is still a relatively small player in the global shipbuilding industry, but the sector, which involves building, ship repair and ship-breaking, is forecasted to be one of the world's largest in the world in the next five to 10 years.
For more information, please refer to http://investphilippines.gov.ph
The Philippines locates a number of the world's top electronic companies and is consistently known as "the source of high-value, high-impact investments preferred Original Design Manufacturer (ODM) and Original Equipment Manufacturer (OEM)."
Exports of electronic products account for 61% of Philippine merchandise exports in 2010. Semiconductor shipments, which made up 77 per cent of electronics exports, grew 53 percent in 2010. Priority subsectors are (a) components/ devices (semiconductors); (b) electronic data processing; (c) automotive electronics; and, (d) solar power or photovoltaic cells.
The Philippines will continue to nurture the following industries:
Home-style Products: furniture and furnishings, holiday décor, house ware and ceramics, woodcraft, giftware (excluding toys), shell craft and basket work.
Wearables: fine jewelry, costume jewelry and fashion accessories (headgear, scarves, gloves, belts and bags)
Motor Vehicle Parts and Components: completely built-up exports; replacement parts; and, customized orders of various automotive metal and plastic fabrications.
Construction and Related Materials: wood-based products; metal-based products; nonmetal-based products (except marble); and, chemical-based products