The Philippine government has issued a memorandum circular (MC) mandating relevant government agencies to implement programs, activities, and projects that promote the development and expansion of Philippine exports.
On June 20, 2023 Executive Secretary Lucas Bersamin signed MC 23, aligning with President Ferdinand R. Marcos Jr. ‘s recent approval of the Philippine Export Development Plan (PEDP) 2023-2028 in a move to enhance the Philippines’ export sector.
The comprehensive plan aims to position the Philippines as a leading exporter of high-value products and services, with the goal of becoming a dynamic exporting nation by 2028.
Under MC 23, all concerned government agencies are required to identify and execute targeted programs, activities, and projects that align with the objectives set forth in the PEDP.
By doing so, the government aims to create an enabling environment that supports the growth and competitiveness of the export sector.
Capitalizing on export growth opportunities, the PEDP 2023-2028 takes into account market trends and the existing competencies of industries in the Philippines.
By leveraging these factors, the plan seeks to maximize the potential for export expansion and strengthen the country’s position in the global market.
The government is optimistic that the implementation of the PEDP will help elevate the industry’s status, foster economic growth, and reinforce the importance of Philippine exports in driving the nation’s progress.
Source: Inside Politico | #InsidePolitico | June 23, 2023
