Trade Secretary Alfredo E. Pascual is eyeing Central Luzon as an “industrial heartland,” which he said has a geographical role in attaining the government’s goal of “solid” economic recovery post-pandemic.
In a statement issued on Tuesday, the Department of Trade and Industry (DTI) said Pascual tackled the agency’s drive towards industrialization, its priority industry clusters, the aim to develop the country’s local industry, and the contributions of the micro, small, and medium enterprises (MSMEs) in pursuit of regional development.
Further, the trade department noted that it has expanded the One Town, One Product (OTOP) program into a “regional scope.”
“We are partnering with research institutions in innovating OTOP. There are already OTOP Hubs in some of our provinces, particularly Aurora, Tarlac, Bulacan, Zambales, and Pampanga. The OTOP Showroom in DTI’s Regional Office III exhibits products made with the ingenuity, creativity, and resourcefulness of MSMEs in the region,” Pascual said during the Second Subic/Clark Business Conference (SCBC) on Tuesday.
In his message, DTI said the trade chief recognized the importance of Central Luzon as a “strategic” business location and its contributions to the Philippine economy.
According to the DTI, Pascual reiterated that the agency is committed to promote an “enabling” business environment for potential investors in Subic, Clark, and other “strategic” areas.
“With the support of partner government units and agencies, DTI envisions Central Luzon as the industrial heartland of the Philippines and the Asia Pacific,” the trade department said in the statement.
Meanwhile, in line with the issuance of Executive Order (EO) No. 18, which mandates the establishment of Green Lanes for Strategic Investments, Pascual said, “DTI, with the support of the Philippine government, is also enabling cross-cutting mechanisms to ease investments.”
President Ferdinand “Bongbong” R. Marcos Jr. recently signed the EO that mandates the establishment of Green Lanes for strategic investments.
Pascual emphasized that this measure will fast track the processing of permits and licenses and offer the Board of Investments as a single point of entry for strategic investments.
According to DTI, the SCBC event aims to showcase investment opportunities, discover the insights of local businesses, and analyze trends in the Subic/Clark area.
“It is envisioned to connect companies in the region that venture into creative industries, advanced technology and innovation, sustainable business practices, real estate, infrastructure, aerospace, renewable energy, and manufacturing industries, among others, to other parts of the world as a potential investment area for global corporations and investors,” the department said.