THE Federation of Philippine Industries (FPI) said concerns have been raised that the Philippines has missed the opportunity to resurrect its manufacturers, citing the difficulty of making things in the country.
“I think it is high time to bring back manufacturing. Some say the bus has left,” FPI President John Reinier Dizon said at a briefing last week.
“We are not going to lie. Is manufacturing easy? Is local production easy? Of course not. The permitting process alone is hard,” he said.
He noted the danger that the Philippines will miss the opportunity provided by its demographic sweet spot and its natural resources.
“If we can be independent and self-sustaining, that would be ideal. We have, I think, north of 115 million Filipinos. Many say we’re in the demographic sweet spot,” he said.
“I think we’re so well endowed with agriculture and with metallic and non-metallic minerals. All the ingredients are there, but we just need to get our act together,” he added.
The regulations that can help manufacturers include the Tatak Pinoy Act, the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, and the New Government Procurement Act.
“The laws are there … I do not think we need new laws. I think we just need to implement and enforce them,” he added.
He also cited the need for creating a level playing field for manufacturers vis-a-vis imports.
“If there are to be imports, there needs to be a level playing field to ensure that the country stands a chance. I think several decades ago, the country pivoted to trade liberalization, and let’s face it, we (did not emerge as) winners,” he said.
“You have all these laws that can protect industries, like safeguards and anti-dumping, but we need to use these tools to help our local businesses be competitive,” he added. — Justine Irish D. Tabile