Promise 10: Target key industries with greatest potential for growth


Posted at Jul 25 2010 12:10 AM | Updated as of Jul 24 2015 05:04 PM


The Promise
The Aquino administration will have broad-based and inclusive economic growth through increased incomes by generating quality jobs and attracting more investments.

It will reduce red tape, reducing the number of processes required to do business in the country.

It will directly target industries with the greatest potential for growth and where the Philippines has a competitive advantage, industries that have already been identified by domestic and foreign business groups and include agribusiness, business process outsourcing, creative industries, infrastructure, manufacturing and logistics, sociallyresponsible mining and tourism and retirement.

The Aquino campaign platform: Action plans on Economy

In progress

Related Promise/s
Promise 7: Streamlining of the government bureaucracy
Promise 13: Promote technical and vocational education
Promise 15: Review policies on agriculture
Promise 16: Lower cost of doing business in the country

January 28, 2015 - The Philippine economy likely finished 2014 strong with growth in the last quarter expected to have regained momentum, putting it on course for another year of solid growth that will allow the central bank to leave policy rates on hold in the near term. (Continue reading)

May 29, 2014 - The Philippine economy grew by 5.7 percent in the first quarter, much slower than market expectations, as it continued to feel the lingering effects of super typhoon "Yolanda" (Haiyan). Gross domestic product (GDP) rose 5.7 percent in the first three months of the year, much lower than the 6.4 percent median estimate of 20 analysts polled by Reuters. (Continue reading)

May 23, 2014 - World Economic Forum founder Klaus Schwab hopes to continue his advocacy of engagement in creating opportunities for global concerns. Schwab also gave President Aquino a vote of confidence in his reform policy. (Continue reading)

May 22, 2014 - The Philippines was chosen to host this year's World Economic Forum (WEF) because it can "serve as a role model for the whole East Asia," the managing director of WEF said. According to Philipp Rosler, the Philippines' goal must be to "become better than others." He said the Philippines needs to make more investments in infrastructure so it can survive competition from other countries. He said the government should also invest in science and technology. (Continue reading)

May 1, 2014 - The Philippines emerged as the world's 28th largest economy in the International Comparison Program (ICP) 2011 study, results of which were released by Washington-based lender World Bank on Wednesday. (Continue reading)

March 6, 2014 - The Philippines' investment climate is one of the best in the Asia-Pacific region, a survey of multinational companies in the region showed. Chris Fossick, JLL managing director for Singapore and Southeast Asia, cited The Economist's Asia Business Outlook Survey (ABOS) 2014 which showed 49% of multinational companies (MNCs) in Asia surveyed said the investment climate in the Philippines is improving. (Continue reading)

January 30, 2014 - The Philippine economy grew by 6.5% in the fourth quarter, bringing full-year growth to 7.2% in 2013, the government announced on Thursday. Socioeconomic Planning Secretary Arsenio Balisacan said the fourth quarter and 2013 real GDP growth has surpassed expectations of both the public and private sectors. The government's growth target was 6% to 7% in 2013. (Continue reading)

August 31, 2012 - Philippine growth cooled much more sharply than expected in the second quarter as exports slumped and the farm sector slowed, boosting expectations that the central bank and the government will take further action soon to cushion the economy from the global downturn. (Continue reading) 

August 17, 2012 - The Philippine central bank said it has enough leeway to adjust policy rates to shield the domestic economy from global headwinds, even if there is an uptick in the rate of inflation. (Continue reading) 

August 13, 2012 - Philippine conglomerate San Miguel Corp posted a more than 50% rise in second-quarter net income, driven by earnings from its energy businesses as demand grew on the back of strong domestic growth, and as new acquisitions contributed. (Continue reading) 

May 31, 2012 - The Philippine economy grew by 6.4% in the first quarter from an upwardly revised growth of 4.9% in 2011, the government announced. "This growth is well above the market’s consensus forecast of 4.8 percent. Also, the Philippines posted the highest growth among ASEAN and other neighboring countries except China," Socioeconomic Planning Secretary Arsenio Balisacan said. The growth was attributed to  to the government's strong infrastructure spending and its conditional cash transfer program. (Continue reading)