Industry plan vital in solving job lack

EXPERTS from state-run think tank Philippine Institute of Development Studies (PIDS) and the World Bank (WB) believe a comprehensive industry road map will help address the lack of jobs for Filipinos. In a statement, PIDS Vice President Rafaelita Aldaba called for the crafting of a comprehensive industry road map that will link all sectors, including agriculture and services. Aldaba said the comprehensive road map would be able to complement improved government policies and other measures such as competitive exchange rates. "We need to improve the competitiveness of industries,” she said. "Structural transformation would require rebuilding capacity, a shift to high value-added activities and deeper participation in regional production networks.” The WB added that what is important is that these efforts should be a collective one, which would involve the government, private sector and other stakeholders. Karl Kendrick Chua, WB senior country economist, said transforming the Philippine economy to yield more and better jobs would be the challenge for everyone. "A broad coalition would be needed to tackle these issues. Instead of tackling policy reforms one by one, the government, business and labor, with the support of civil society, need to work together to come up with a package of reforms in creating more and better jobs in the Philippines,” Chua said. He said these reforms include secure property ownership; fair competition; more investments in health, education and infrastructure; and simple business regulations to reduce the cost of doing business in the Philippines.