One of Central Luzon’s central figures in business leadership has called for a major economic transformation that is anchored on a robust manufacturing and technology sector rather than a predominantly services-led model.
This shift is seen to urgently propel the Philippines past its regional neighbors, so averred Rene Romero, Founding Fellow of the Pampanga Business Circle.
Romero acknowledged that the country has the skilled manpower, economic zones and even manufacturing centers but its “industrial base has not yet achieved the depth and scale necessary to maximize our potential.”
His opinion is contained in a commentary in Pampanga News Now (https://pampanganewsnow.com/the-ph-must-industrialize-a-call-for-a-new-era-of-philippine-economic-development/)
“We are not starting from zero. We already manufacture semiconductors and electronics, automotive and aerospace components, food products, chemicals, construction materials, and many others. We have talented engineers, skilled Filipino workers, entrepreneurs, economic zones, strategic ports and airports, natural resources, and a geographic location at the heart of Asia,” Romero stated.
“The Philippines must industrialize,” he wrote as he noted that neighboring countries are “moving ahead of us economically.”
The shift, he said, does not call not for the abandonment of thriving service industries like BPO and tourism, but for a balanced economy where modern agriculture, world-class services, and powerful manufacturing sectors reinforce one another.
He said that in order to industrialize, the Philippines must strengthen its primed development backbones such as the Luzon Economic Corridor (LEC) which harnesses the major industrial sites, economic and investment centers, airports and seaports from Northern Luzon up to Batangas.
He also reiterated the vital role that the proposed Pax Silica in New Clark City plays in the ecosystem surrounding the LEC.
“New Clark City and initiatives such as PAX SILICA can become important laboratories for demonstrating how infrastructure, technology, manufacturing, innovation, education, energy, logistics, and investment can be integrated into a modern industrial ecosystem,” he wrote.
Industrialize Responsibly
With some environmental issues also revolving in future economic anchors such as the Pax Silica, Romero said that development cannot come at the expense of our environment, our communities, or future generations. Industrialization must be sustainable, inclusive, innovative, and increasingly Filipino-driven.
Beyond 6 years and political terms
Industrialization, he said, must go beyond the terms of politicians running the country.
He added that true industrialization cannot be bound by six-year political cycles. Because factories, railways, power plants, and supply chains require decades to mature, the strategy must transcend presidential administrations.
He also proposed for the formulation of a National Industrialization Strategy featuring measurable targets, institutional continuity, and strict environmental sustainability. He believes that industrialization must be backed up by legislative measures that should bind future administrations of the country.
Pillars and Strategy
Romero pointed out the following key pillars that could make up a new industrial strategy:
- Value-Chain Upgrading: Moving beyond assembly for foreign nations to a system where Filipino companies design technologies, process local materials, and export high-value finished goods.
- MSME Integration: Elevating micro, small, and medium enterprises to vital suppliers for advanced industries, including renewable energy, pharmaceuticals, and aerospace.
- Job Retention: Creating globally competitive careers locally to curb the brain drain of skilled Filipino engineers, scientists, and technicians seeking opportunities abroad.
The post Romero: PH must shift from service-led economy to total industrialization first appeared on Pampanga News Now.