Philippine Business Competitiveness Cutting Across Industries
By Carina Roncesvalles
The business-friendly Philippines holds attractive industries that will make your investments grow and grow even further The smart and zealous businessman knows no boundaries on the kind of ventures that they can establish. Equally, the Philippines offers no boundaries in terms of business opportunities.
The Medium Term Philippine Development Plan 2004 to 2010 - the government’s blueprint to lead the Philippines to global competitiveness – includes the following priority areas that merit incentive packages from the government: Information Technology and IT-enabled services; Automotive; Electronics; Mining; Healthcare; Tourism; Shipbuilding; Fashion Garments; Jewelry; and Agribusiness.
These industries, among others, display the best of what the Philippines has to offer – skilled labor force, abundant and rich natural resources, adequate telecommunications systems and vibrant tourist spots.
IT industry – the new face of Philippine competitiveness
Major players in the global IT sector are present in the Philippines and continue to beef up their operations in the country. This is a testmament to the Philippines’ capability to take a sizeable portion of the fast growing IT sector.
The Philippines boasts of highly-educated and skilled work force to make the IT sector reach new heights. The country’s telecommunications systems are always in pursuit of excellence to address the growing needs of the industry and the market, and at the same time boost the country’s competitiveness in the IT and IT-enabled services through research and development.
A take-off point in the growth of the IT industry is its booming subsector – the multi-billion-peso sunshine industry of business process outsourcing (BPO) that includes call centers, medical transcription, legal transcription, financial services and animation.
Automotive industry – the driver of the Philippines to the global market
The automotive industry in the Philippines boosts of a synergy that makes it a key player in the economy. Synergy binds the two sectors: motor vehicle assemblers; and the motor vehicle parts and components manufacturers.
Electronics industry – the prime mover of the export sector
Electronic components are now the top export products of the country that led the economy to a big leap.
The Philippine electronics industry includes the following sub-sectors: Semiconductors (microelectronics) and other components which consists of manufacturers of integrated ciruits, transistors, diodes, resistors, capacitors, coils, transformers, PCBs and other components; Electronic Data Processing Equipment which consists of the manufacturers of computers, peripheral storage and input/output devices.
Office Equipment which consists of manufacturers of photocopiers, fax machines, and electronic calculators; Telecommunication Equipment with products such as telephone sets, modems, copper communication cables, and fiber optic cables; Communications and Radar with products wuch as cellular phones, pagers, closed circuit television, CB transceivers, radar detectors, marine and land mobile radios.
Control and Instrumentation which refers to test and measuring instruments such as oscilloscopes, signal generators, ammeters, voltmeters, ohmmeters, cross talk meters; Medical and Industrial which covers equipment used for X-ray and other medical applications, railway signaling, security and fire alarms.
Automotive Electronics comprised mainly of manufacturers of car stereos, anti-skid brake systems, and car body electronics; and Consumers Electronics with products such as TV sets, VCD players, electronic games, radio cassette players and karaoke machines.
Pages: Page 1 Page 2
About Carina Roncesvalles: Carina Roncesvalles is a Journalism graduate from the University of the Philippines in Diliman. Carina has worked as a Reporter for BusinessWorld. She is nowworking as a full-time writer for a Makati-based public relations company.
No comments yet.
RSS feed for comments on this post. TrackBack URI
