Now seen as a new growth area, the Philippines is well positioned to attract new investments that would catalyze industry growth and development. Since 2012, the DTI has focused on a new industrial policy that aims to improve the country’s competitiveness and provide a business environment conducive to industry upgrading, moving up the global value chain, creating quality jobs, and attaining sustainable and inclusive growth.
Aerospace manufacturing is a high-technology industry that produces aircraft, guided missiles, space vehicles, aircraft engines, propulsion units, and related parts. The industry is comprised of government and private industries that perform the institutional roles of end-users, suppliers and manufacturers.
The Philippine semiconductors and electronics industry specializes in manufacturing assembly, testing, packaging and distribution. Among the firms investing in the country include Texas Instruments, Toshiba Information Equipment, Inc., Amkor, HGST (A Western Digital Company), and Fairchild Semiconductor (Phil.), Inc., Analog Devices, ON Semiconductor, Cypress, Maxim, NXP, STMicroelectronics, and IMI Electronics.
The Philippines’ Information Technology and Business Process Management (IT-BPM) sector is one of the best-performing and employment generating activities in the past four years. Its global leadership in voice-based services as well as continuing improvements in non-voice and complex process outsourcing show the promising growth trajectory of the IT-BPM sector.
In the Philippines, the creative industry, which includes sectors like advertising, digital art/graphic design, animation, game development, film, and performing arts, contributed P661B, comprising 7.34% of the country’s total GDP and employed 14.4% of the labor force.
The Philippine natural health products industry is an emerging contributor to consumer welfare and inclusive growth in the country. Providing affordable and organic sources of personal care products, it caters to a niche market which can expand through developments in its supply chain management, production technologies and research and development.
Agribusiness refers to agriculture-related activities that put farmers, processors, distributors, and consumers within a system that produces, processes, transports, markets, and distributes agricultural products.