MANILA -- President Ferdinand R. Marcos Jr. has bared that his government will focus on attracting more investments, re-skilling and upskilling of Filipino workers and adoption of new technologies to sustain the country’s current growth momentum and make its economy stronger.
“We now move on with the initiatives that we would like to introduce. And those are, what I spoke of in my speech, the investment that come from private partners (but) government to government investments are also something that we are hoping to increase,” President Marcos during a question and answer session of the World Economic Forum on East Asia in Malacanang Tuesday with WEF President Børge Brende.
“And these investments also must be directed properly. They cannot be just investments that are perhaps very profitable but do not really help the economy grow. So [it] is still the main aim. I think, we [have] grown the idea… that we grow the economy out of the doldrums of the post pandemic situation,” he said.
Capital investment in new sectors will also be key, he said, citing investments in digital space, new technologies and industries such green minerals processing and battery production.
Another area that the government is looking into is re-skilling and upskilling of the Filipino laborers to increase their competitiveness in the new economy, he pointed out. “Whenever we speak on investments I always ask the prospective investor if we have in fact a training program, if there is a transfer of technology, because this is going to be essential,” he said.
“This continuous training and upskilling of our workers is conducted not only so that they are able to work in the areas that are in important in the new economy. And also we have a very significant part of our economy is dependent on our overseas workers,” he pointed out.
The Filipino workforce, according to the President, has to acquire specialized skills for them to be able to compete properly in the international labor market and to put them in good position wherever they see opportunities.
The Philippines hosted the two-day 23rd World Economic Forum on East Asia, with discussions centering on the promise and potential of the country as the strongest-performing Southeast Asian economy in 2024. (PND)
