MANILA -President Rodrigo Duterte has signed a memorandum that approves the Philippine Export Development Plan (PEDP) 2018 to 2022, a multi-year roadmap aimed at improving exports performance and increasing the sector's competitiveness.
Executive Secretary Salvador Medialdea, by the authority of the President, signed Memorandum Circular 62 on June 26, 2019, and a copy of the document was released to reporters on Monday (July 1).
The PEDP 2018 to 2022, which was prepared by the Department of Trade and Industry (DTI), aims to increase export revenues from USD122 billion to USD130 billion by 2022.
Moreover, the PEDP 2018 to 2022 is very much aligned with the government's Philippine Development Plan (PDP), which calls for boosting services exports, increasing the competitiveness of Philippine exports, and exploring new markets for Philippine products.
"The task for PEDP 2018-2022 is determining the feasibility of the targets that would synchronize the PEDP with the six-year program of the Duterte administration (the PEDP 2018-22 five-year timetable is to catch up with the PDP)," the executive summary on the PEDP read.
"The export targets are seen to significantly contribute to short to medium term development objectives in the PDP and in ensuring they are integral to the long-term vision of the country as Ambisyon 2040," it added.
Meanwhile, the memorandum also directs all concerned government agencies to review relevant policies to ensure the implementation of the plan.
Last month, the Economic Development Cluster endorsed the PEDP 2018-2022 for President's approval.
The Economic Development Cluster is an executive body composed of 15 member agencies in charge of promoting inclusive, sustainable, and rapid economic growth. (PNA)
Source: Philippines News Agency