President Ferdinand R. Marcos Jr. made a commitment to Japanese investors Thursday that the Philippine government will pursue intensified efforts to upskill and reskill Filipino workers so they can remain competitive under the new global economy and technological advances.
“We also consider very important the programs that you have elucidated here today about the upskilling and reskilling of our workforce,” President Marcos said during the roundtable discussion with semi-conductor, electronics and wiring harness companies in Japan.
“It’s very clear that we are shifting in the world economy, away from the more traditional, industrial activities to a high technology world,” the chief executive said.
According to President Marcos, it is something that the Philippines must prepare for, expressing confidence that with the proper training and assistance of the Filipino workforce, the Philippines will certainly be able to provide the technical manpower, which is going to be required for the new economy.
The President said his government puts a premium on the operation of Japanese companies in the Philippines being the country’s prime job generator, support provider for sectors critical to industrial development, and value creator through innovation in manufacturing around the world.
The President promised to address the issues raised by bus executives such as value-added tax (VAT) refund issues, logistics,and manpower requirements, among others.
Cabinet secretaries accompanying the President also gave specific answers in addressing the issues raised by the Japanese companies.
With his economic agenda pursuing an investment-led export growth strategy, Marcos vowed to respond to their concerns, saying: “And it is why we have taken note of the comments that you have made, specifically in the areas of the VAT exemption, in the problems of logistic and supply chains, and to that end, the infrastructure development in the Philippines has actually been accelerated.”
“We have listened to your concerns and your issues, and we intend to respond to these challenges with a whole-of-government approach. The hope is that our strength in these sectors will beget more strength in the entire Philippine industrial landscape to the benefit of the Philippines and also of our partners and our investors,” the President said.
The Philippines aspires to a become hub of excellence for sectors where it has a natural comparative advantage, President Marcos said, adding the country aims to attain the status as a regional hub for printers, wiring harnesses and other electronic goods.
The Philippine wiring harness exports have been growing on average by 9 percent every year, over a 20-year period, from 2000 to 2021, and is now the 4th largest exporter of wiring harnesses in the world.
The automotive wiring harness market is expected to surpass USD93 billion this year, with global demand for greater fuel efficiency and electric vehicles fueling growth in the coming years. #
