EXPERTS from the government and private sector believe an industrial policy will boost the growth of the manufacturing sector and the Philippine economy as a whole. The DTI is developing a program called Securing Manufacturing Revitalization and Transformation to provide fiscal and non-fiscal support to industries that will adopt Industry 4.0 technologies. Under its initial proposal, a total of P30 billion fiscal support will be allotted for manufacturers of electric public utility vehicles, buses, trucks, 2- and 3-wheelers, passenger cars, batteries, auto electronics and charging stations. The DTI also proposed a P53-billion fiscal support for buyers of e-jeepneys, motorcycles and tricycles. Aldaba reported that the manufacturing sector grew by 8.8 percent in 2021.

Source: Manila Times June 24, 2022 12:25 UTC