Industry cluster to generate P6.79B investments, $448M exports

THE government targets to generate P6.79 billion in investments and $448 million in export revenues this year as it implements an industry clustering strategy to develop the country's micro, small and medium enterprises (MSMEs).

In a presentation to an economic briefing, Trade Secretary Gregory Domingo said that industry cluster development can create 1,794 MSMEs and assist 6,349 existing ones.

Domingo said they will put up 1,000 community clusters nationwide this year. The country already piloted a coffee cluster in Kalinga and Mountain Province.

The Department of Trade and Industry (DTI) identified 14 priority industry clusters in the country that include raw materials supply chain, processed tropical fruits, processed fish and marine products, leveraging industry supply chain network for tourism, processed meat and livestock, other agri-based industries, coco products, rubber, information and communication technology or ICT, metals and metal works, furniture and furnishings, ceramics and pottery, mining and renewable energy.

These clusters have 34 industries, 24 of which are under the National Industry Cluster Capacity Enhancement Project (Niccep).

Niccep is a three-year project that aims to enhance the capacity of selected industry clusters to plan, implement, facilitate service delivery, evaluate projects and improve industry competitiveness and business environment.

Domingo said the program to promote and develop industry clusters can "make SMEs in the industry and services sectors globally competitive."