Backed with US$50 billion of revenue from remittances and outsourcing which represents approximately, 9.8% of GDP in 2016, was definitely, a major driver of private consumption in the Philippines economy!
“Philippines will remain an outperformer in the region,” said Rahul Bajoria, a senior economist at Barclays Plc in Singapore. “It is domestically driven, with consumption holding up quite well and the fiscal spending being planned. The global risks we're seeing including to trade won't fundamentally alter its prospects.”
Since 2012, the government has implemented new Industrial policies that aimed to improve the country’s industrial competitiveness with a business savvy environment . Now seen as a new growth area, the Philiipines is well positioned to attract new investment & suppliers that would catalyse industry growth and development.
Riding on the growing automotive industry, the Philippines vision of the auto parts industry is to strengthen the country position as a significant automotive player in the medium-term and become a regional hub for vehicles and parts in Asia supported by a strong domestic supplier base.
The Philippines aerospace industry aims to make the country a major hub for manufacturing of original equipment manufacturing (OEM) parts and allied services, such as maintenance, repair and overhauling (MRO), for the global commercial aircraft industry.
In 2016, the electronics industry accounted for 49 percent of the total Philippines exports, directly employed over 2.3 million, and had a total of P80.78 billion investments for the country.
The petrochemicals industry aims to achieve self-sufficiency in vital resin supply and increase petrochemical sector's contribution to a total of Philippines GDP from Php 44B in 2010 to Php 113B in 2018 & Php 215B by 2025 through the progressive integration of upstream, midstream & downstream components of the sector.
By 2030, the Philippines Iron and Steel Industry sees itself as a majority producer of quality steel products for domestic users. This vision can be achieved when the industry is able to supply 70% of the tonnage of required apparent steel consumption for sustainable economic development in 2030.
Join us as an exhibitor where we deliver new business leads, establish commercial partnerships, foster customer loyalty and heighten your company products and brands on the show floor.
2 full days of workshops & seminars on selected topics associates with smart manufacturing , digitalization impact, automation & robotics and industry challenges.
A dynamic platform where technical experts, government officials, education specialists & industry leaders gather.
Don’t miss your chance to hear from the best And learn from the finest at IMFP Conference 2018!