DTI welcomes private sector partnership in Marcos admin’s economic recovery agenda

DTI welcomes private sector partnership in Marcos admin’s economic recovery agenda

By Cip D.C. Cabrera

MANILA — Welcoming the efforts of private investors and business groups in supporting economic growth and development in southeast Asian region, trade and industry secretary Alfredo Pascual gave recognition to the importance of closely working with the private sector in sustaining economic growth in the country despite constraints due to the adverse effects of the coronavirus pandemic and other economic factors.

Pascual noted the significant efforts contributed by the private sector in its role as catalyst in the region’s economic recovery and response against the Covid-19 pandemic and climate change, as well as the call for investments in renewable energy.

“The Philippines recognizes the importance of working closely with the private sector and having regular engagements, such as our dialogue mechanism today, especially as we work toward economic growth and recovery amid the challenges encountered during the pandemic and disruptions to the supply chain,” the trade chief pointed out.

Pascual welcomed the efforts of the Association of Southeast Asian Nations Business Advisory Council (ASEAN-BAC) to spearhead a number of projects and initiatives on digitalization in the Philippines, which will bring the country at par with its neighbors, particularly Singapore and Malaysia.

In particular, he expressed gratitude to ASEAN-BAC’s Smart Growth Connect Project that seeks to pilot smart growth centers designed to efficiently distribute goods and services through integrated advanced supply chain nerve center operations, which will soon be implemented following the signing of a memorandum of understanding (MOU) last April between DTI and Singaporean supply chain and logistics conglomerate YCH Group.

The MOU will initially facilitate the conduct of a feasibility study to develop smart logistics infrastructure in Batangas City.

Trade and industry secretary Alfredo Pascual. (Photo from Philippine News Agency)

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