The incoming leadership of Alfredo Pascual as trade and industry secretary will focus on innovation of domestic industries and digitalization of the agency’s operations and all its functionaries as the new leader is all set to “take up Philippine industries” to be his “moonshot” during his stint.
Pascual emphasized these thrusts during his first media interview over a television program calling digitalization and innovation as hanging fruits that will support his “moonshot” or “long shot” goal during his stint as DTI chief of the incoming Marcos administration.
“My moonshot is to take up Philippine industries,” he said.
Pascual, who graduated with a chemistry major, said he will promote innovation. “I think definitely I will promote science, technology and innovation,” stressing these are basis for the country’s industrialization. He cited of a plan developed before by the National Academy of Science and Technology that provides a roadmap on applying science, technology and innovation to support the country’s development.
With that, he will push for foreign direct investments that are high tech industries as he planned to bring in foreign capital that will set up manufacturing hubs for medicines and vaccines, R & D to support economic growth and jobs creation.
“We will try to give priority to investors that are in high tech industries. For example, there is the growing need for data center in various spaces outside for example, outside the US and the Philippines. Since we are connected by fiber optic cables to important countries, then we could be a logical location,” he said.
He further revealed that by Friday this week, he will be meeting with a business group engaged in the area of data center investment.
On digital transformation, Pascual revealed he already started discussing with his friends being chairman of the Advisory Board of the Asian Institute for Digital Transformation.
“One of my priorities is to promote digital transformation of DTI and all our functionaries, as well as the micro, small and medium enterprises and other enterprises in the country,” he said.
Pascual believes that digitalization for government agencies like the DTI that do both regulation and development will see more efficient regulation and more effective development work.
For MSMEs, Pascual said they are reviewing the organizations affiliated with the DTI particularly the SBCorp to look into how best that outfit can support MSMEs that suffered the most from the pandemic, such as the frontline businesses, food and beverage restaurants, tourism and entertainment.
“We’d see whether a recovery package is in order,” he said although he also cited tools that can be tapped like grants and the provisioning of government guarantees to loans by small businesses.
On consumer protection, Pascual cited the need to further empower consumers by giving them information to help them in their decision on their purchases. “With digitalization, we can provide advance information on suggested retail prices of practically any of the commodities being demanded in the local market,” he said.
Likewise, Pascual will push for the immediate Senate concurrence for the ratification of the mega trade deal Regional Comprehensive Economic Partnership (RCEP). As president of the Management Association of the Philippines, Pascual said they already released a statement supporting RCEP.
President-elect Ferdinand Marcos Jr. earlier said that he was not in a rush and wants a slow approach to RCEP as he weighed the impact of trade liberalization on Filipino farmers.
Pascual cited studies done by government research agencies like the Philippine Institute for Development Studies recommending in no uncertain terms that the affiliation of the country with RCEP would address issues raised by farmers.
