Trade Secretary Alfredo Pascual said the Department of Trade and Industry formulated and presented the Philippine Export Development Plan 2023-2028 to President Ferdinand R. Marcos Jr.
The PEDP, pursuant to the Export Development Act of 1994, represents a shift in the government’s approach to export development. It aims to strengthen the country’s export sector by pursuing export development as a national agenda, which involves attracting investments to increase domestic capacities, developing local industries that can cater to both domestic and global demands, and providing an enabling environment for businesses to thrive in a highly competitive global environment.
“This defines the country’s export thrusts, strategies, programs, and projects. Today, we have secured the President’s approval, with just a couple of additions to the plan. We thank President Ferdinand Marcos Jr. for his unwavering support to Filipino exporters. The PEDP is a testament to the government’s commitment to help our exporters become competitive global players,” said Pascual.
Through the PEDP, the country will capitalize on export growth opportunities by considering market trends and available and existing competencies among Philippine industries. It will also employ an export development-centric approach, making the Philippines a major player in the global economy.