MANILA : The Philippines on Thursday launched an ambitious target of more than doubling its merchandise and service exports to $240.5 billion annually in the next six years, according to a plan jointly developed by the government and private sector industry.Total exports are targeted to rise by 12.5 per c
MANILA : The Philippines on Thursday launched an ambitious target of more than doubling its merchandise and service exports to $240.5 billion annually in the next six years, according to a plan jointly developed by the government and private sector industry.
The plan seeks to attract more foreign investment, lower the cost of doing business, cut red tape, improve infrastructure, reduce power costs, and address a mismatch in education and skills levels. In the immediate term, risks include geopolitical tension, supply chain disruption, and bureaucracy, Sergio Ortiz Luis, president of the Philippine Exporters Confederation, told reporters.
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