{"id":18885,"date":"2024-05-23T03:06:05","date_gmt":"2024-05-23T03:06:05","guid":{"rendered":"https:\/\/energybuzz.ph\/staging\/6915\/education-manufacturing-and-tourism-are-key-growth-drivers-says-jg-summit-ceo\/"},"modified":"2024-05-23T03:06:05","modified_gmt":"2024-05-23T03:06:05","slug":"education-manufacturing-and-tourism-are-key-growth-drivers-says-jg-summit-ceo","status":"publish","type":"post","link":"https:\/\/energybuzz.ph\/staging\/6915\/education-manufacturing-and-tourism-are-key-growth-drivers-says-jg-summit-ceo\/","title":{"rendered":"Education, manufacturing and tourism are key growth drivers, says JG Summit CEO"},"content":{"rendered":"<div>\n<style type=\"text\/css\">\n<p>                    #tdi_1  .td-doubleSlider-2 .td-item1 {\n                        background: url(https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/Gokongwei-80x60.jpg) 0 0 no-repeat;\n                    }\n                    #tdi_1  .td-doubleSlider-2 .td-item2 {\n                        background: url(https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/Balisacan-80x60.jpg) 0 0 no-repeat;\n                    }\n                <\/style>\n<div id=\"tdi_1\" class=\"td-gallery td-slide-on-2-columns\">\n<div class=\"post_td_gallery\">\n<div class=\"td-gallery-slide-top\">\n<div class=\"td-gallery-title\"><\/div>\n<div class=\"td-gallery-controls-wrapper\">\n<div class=\"td-gallery-slide-count\"><span class=\"td-gallery-slide-item-focus\">1<\/span> of 2<\/div>\n<div class=\"td-gallery-slide-prev-next-but\">\n                                    <i class=\"td-icon-left doubleSliderPrevButton\"><\/i><br \/>\n                                    <i class=\"td-icon-right doubleSliderNextButton\"><\/i>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"td-doubleSlider-1 \">\n<div class=\"td-slider\">\n<div class=\"td-slide-item td-item1\">\n<figure class=\"td-slide-galery-figure td-slide-popup-gallery\">\n                            <a class=\"slide-gallery-image-link\" href=\"https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/Gokongwei.jpg\" title=\"Gokongwei\" data-caption=\"JG Summit CEO Lance Y. Gokongwei delivered a keynote speech on the private sector\u2019s role in fueling economic growth at BusinessWorld\u2019s economic forum on Wednesday. \u2014 PHILIPPINE STAR\/JESSE BUSTOS\" data-description=\"\"><br \/>\n                                <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/energybuzz.ph\/staging\/6915\/wp-content\/uploads\/2024\/05\/Gokongwei-691x420-1.jpg\" srcset=\"https:\/\/energybuzz.ph\/staging\/6915\/wp-content\/uploads\/2024\/05\/Gokongwei-691x420-1.jpg 691w, https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/Gokongwei-300x182.jpg 300w, https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/Gokongwei-1024x622.jpg 1024w, https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/Gokongwei-768x467.jpg 768w, https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/Gokongwei-640x389.jpg 640w, https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/Gokongwei-681x414.jpg 681w, https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/Gokongwei.jpg 1185w\" sizes=\"(max-width: 691px) 100vw, 691px\" alt=\"\"><br \/>\n                            <\/a><figcaption class=\"td-slide-caption td-gallery-slide-content\">\n<div class=\"td-gallery-slide-copywrite\">JG Summit CEO Lance Y. Gokongwei delivered a keynote speech on the private sector\u2019s role in fueling economic growth at BusinessWorld\u2019s economic forum on Wednesday. \u2014 PHILIPPINE STAR\/JESSE BUSTOS<\/div>\n<\/figcaption><\/figure>\n<\/p><\/div>\n<div class=\"td-slide-item td-item2\">\n<figure class=\"td-slide-galery-figure td-slide-popup-gallery\">\n                            <a class=\"slide-gallery-image-link\" href=\"https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/Balisacan.jpg\" title=\"Balisacan\" data-caption=\"NATIONAL Economic and Development Authority Secretary Arsenio M. Balisacan (third from left) received a token from BusinessWorld Editor-in-Chief Cathy Rose A. Garcia, President and CEO Miguel G. Belmonte (right) and Executive Vice-President Lucien C. Dy Tioco after his keynote speech at the paper\u2019s economic forum titled \u2018PH Next Growth Drivers\u2019 at the Grand Hyatt Manila in Taguig City on Wednesday.\" data-description=\"\"><br \/>\n                                <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/energybuzz.ph\/staging\/6915\/wp-content\/uploads\/2024\/05\/Balisacan-460x420-1.jpg\" srcset=\"https:\/\/energybuzz.ph\/staging\/6915\/wp-content\/uploads\/2024\/05\/Balisacan-460x420-1.jpg 460w, https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/Balisacan-300x274.jpg 300w, https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/Balisacan-768x702.jpg 768w, https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/Balisacan-640x585.jpg 640w, https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/Balisacan-681x622.jpg 681w, https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/Balisacan.jpg 985w\" sizes=\"(max-width: 460px) 100vw, 460px\" alt=\"\"><br \/>\n                            <\/a><figcaption class=\"td-slide-caption td-gallery-slide-content\">\n<div class=\"td-gallery-slide-copywrite\">NATIONAL Economic and Development Authority Secretary Arsenio M. Balisacan (third from left) received a token from BusinessWorld Editor-in-Chief Cathy Rose A. Garcia, President and CEO Miguel G. Belmonte (right) and Executive Vice-President Lucien C. Dy Tioco after his keynote speech at the paper\u2019s economic forum titled \u2018PH Next Growth Drivers\u2019 at the Grand Hyatt Manila in Taguig City on Wednesday.<\/div>\n<\/figcaption><\/figure>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"td-doubleSlider-2\">\n<div class=\"td-slider\">\n<div class=\"td-button td-item1\">\n<div class=\"td-border\"><\/div>\n<\/p><\/div>\n<div class=\"td-button td-item2\">\n<div class=\"td-border\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"p2\">By <b>Revin Mikhael D. Ochave, <\/b><span class=\"s1\"><i>Reporter<\/i><\/span><\/p>\n<p class=\"p3\"><span class=\"s2\">THE PHILIPPINE government and private<\/span> sector should harness the potentials of education, manufacturing and tourism, which are critical to economic growth, JG Summit Holdings, Inc.\u2019s top executive said on Wednesday.<\/p>\n<p class=\"p4\"><span class=\"s3\">The state should serve as a \u201ckey enabler\u201d<\/span><span class=\"s4\"> by facilitating the cost and ease of doing business, while private companies should continue to invest, create jobs and wealth to improve lives, JG Summit President and Chief Executive O<\/span><span class=\"s5\">ff<\/span><span class=\"s4\">icer<span class=\"Apple-converted-space\">\u00a0 <\/span>(CEO) Lance Y. Gokongwei said in a speech at <i>BusinessWorld<\/i>\u2019s economic forum in Taguig City.<\/span><\/p>\n<p class=\"p4\">\u201cUnderlying these three critical areas is, of course, the importance of both physical and technological infrastructure that will support and further hasten the growth of our human capital, manufacturing sector and tourism industry,\u201d he added.<\/p>\n<p class=\"p4\"><span class=\"s2\">Mr. Gokongwei said young Filipinos should have skills to let them keep up with an economy driven by technology, while teachers should be upskilled and reskilled in science, technology, engineering and mathematics.<\/span><\/p>\n<p class=\"p4\">He added that with an adequately equipped workforce, the government and business can \u201ccon<span class=\"s4\">f<\/span>idently woo global capital to pitch their tents in our country based on the undeniable resources we o<span class=\"s4\">f<\/span>fer.\u201d<\/p>\n<p class=\"p4\"><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-596946 size-medium\" src=\"https:\/\/energybuzz.ph\/staging\/6915\/wp-content\/uploads\/2024\/05\/BWEF-Next-LOGO-300x169-1.jpg\" alt=\"\" width=\"300\" height=\"169\" srcset=\"https:\/\/energybuzz.ph\/staging\/6915\/wp-content\/uploads\/2024\/05\/BWEF-Next-LOGO-300x169-1.jpg 300w, https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/BWEF-Next-LOGO-1024x576.jpg 1024w, https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/BWEF-Next-LOGO-768x432.jpg 768w, https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/BWEF-Next-LOGO-747x420.jpg 747w, https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/BWEF-Next-LOGO-640x360.jpg 640w, https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/BWEF-Next-LOGO-681x383.jpg 681w, https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/BWEF-Next-LOGO-1021x580.jpg 1021w, https:\/\/www.bworldonline.com\/wp-content\/uploads\/2024\/05\/BWEF-Next-LOGO.jpg 1280w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\">Mr. Gokongwei said revitalizing the manufacturing sector would also boost the economy.<\/p>\n<p class=\"p4\">\u201cOur industrialization hinges on the government and private sectors jointly identifying and agreeing on the manufacturing industries that we need to develop, supported by enabling policies and incentives,\u201d he said.<\/p>\n<p class=\"p4\">The bid to become a manufacturing economy also depends on the country\u2019s ability to equip its workforce so it can meet the demands of the emerging industrial and technological landscape.<\/p>\n<p class=\"p4\"><span class=\"s6\">Mr. Gokongwei added that both direct and indirect tourism receipts should form part of the Philippines\u2019 economic growth plans.<\/span><\/p>\n<p class=\"p4\">\u201cOur natural wonders, our kindhearted people, and our ideal location \u2014 these are the perfect ingredients to make us a tourism powerhouse with significant contributions to our gross domestic product,\u201d he said.<\/p>\n<p class=\"p4\">Philippine economic prospects remained bright despite risks and challenges, National Economic and Development Authority Secretary Arsenio M. Balisacan told the forum in a separate speech.<\/p>\n<p class=\"p4\"><span class=\"s7\">\u201cThe Philippines\u2019 prospects remain bright and amidst current projections, we are working hard to keep <\/span><span class=\"s2\">our fundamentals sound,\u201d he said.<\/span><\/p>\n<p class=\"p4\">\u201cDespite some of the greatest challenges we have ever faced, we remain committed to meeting our short-term goals. We aim for no less than socioeconomic transformation in the medium term,\u201d he added.<\/p>\n<p class=\"p4\">Mr. Balisacan cited the need to make economic growth more inclusive amid improving poverty statistics in recent years.<\/p>\n<p class=\"p4\">\u201cWe must enhance access to high-quality employment and market opportunities and strengthen social protection, reduce poverty to single-digit levels and improve the overall quality of life,\u201d he said.<\/p>\n<p class=\"p4\">The economy grew by 5.7% in the first quarter, slower than expected and below the state\u2019s 6-7% target for the year.<\/p>\n<p class=\"p6\"><b>\u2018SYNERGY\u2019<br \/>\n<\/b>George I. Royeca, chief executive officer of motorcycle ride-hailing mobile app Angkas, said informal workers have a lot to contribute to the economy.<\/p>\n<p class=\"p4\"><span class=\"s6\">\u201cThe challenge for us is how to create a platform for informal workers, how to provide financial services and raise financial literacy,\u201d he told the forum. \u201cI really hope that we can push the informal sector and make it really thrive.\u201d<\/span><\/p>\n<p class=\"p4\">He added that the country should adopt innovative strategies in various industries.<\/p>\n<p class=\"p4\">Globe Telecom, Inc. Vice-President Emmanuel L. Estrada said there\u2019s a need to bridge the digital divide.<\/p>\n<p class=\"p4\">\u201cDigital connectivity has now become fundamental to economic progress,\u201d he said at the forum. \u201cWe need not just connectivity, but universal and meaningful connectivity.\u201d<\/p>\n<p class=\"p4\">Jesus C. Romero, chief operations officer and senior executive vice-president at Converge ICT Solutions, Inc., said the local broadband industry still has a lot of work to do in boosting capacity and cutting costs.<\/p>\n<p class=\"p4\">\u201cThere is no one-size-fits-all internet for all situations,\u201d he told the forum. \u201cThere will be people who are better off with mobile and those who are better off with fiber broadband.\u201d<\/p>\n<p class=\"p4\"><span class=\"s2\">Miguel G. Belmonte, president and CEO at BusinessWorld Publishing Corp., said public-private coordination is needed to attract investments and create more jobs.<\/span><\/p>\n<p class=\"p4\">\u201cAmong these growth drivers, what stands out to me is the inspiring synergy between the government and the private sector, which is a major driving force for the country in spurring investment, innovation and job creation,\u201d he said.<\/p>\n<p class=\"p4\">\u201cThe private sector employs over 60% of the labor force and contributes a large chunk to Philippine GDP,\u201d Mr. Belmonte said. \u201cWith critical industries like energy, telecommunications and infrastructure having given a huge potential to the private sector, the possibilities for the country are truly marvelous.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<div>THE PHILIPPINE government and private sector should harness the potentials of education, manufacturing and tourism, which are critical to economic growth, JG Summit Holdings, Inc.\u2019s top executive said on Wednesday.<\/div>\n","protected":false},"author":1,"featured_media":18886,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[2667,263,215,14644,5603,2740,11413,3788,14780,192,6168,3088],"class_list":["post-18885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-education","tag-and","tag-are","tag-bworldonline","tag-ceo","tag-drivers","tag-growth","tag-key","tag-manufacturing","tag-says","tag-summit","tag-tourism"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - 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