President Ferdinand “Bongbong” Marcos Jr. believes that it is time for the Philippines to develop its manufacturing abilities.
Marcos said that favoring the export-oriented industries is “valid”. However, he also pointed out that it’s high time that the country build up its manufacturing sector.
“But I think it is also time to look inwards into the domestic market here and develop our manufacturing capabilities. Develop those markets, the local markets, and for that, we need the private sector to come in,” he added. “As when we talk about manufacturing, we are talking about capital-intensive investments. And that is something we are hoping will be again a driver for our economy in the next few years,” he said.
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