PHIVIDEC Industrial Authority administrator Franklin Quijano said the Philippines should start processing its own minerals for value-adding than directly exporting to other countries.

Quijano said during the SM City Kapehan media forum Monday, August 19, 2019, that it is high-time for the country to develop its industrial resources as it has enough natural and human resources, especially in Mindanao, that could even compete globally.

"We have been extracting minerals from our countryside without value-adding... It is the best time to have an integrated steel mill so from iron processing [we will have] steel processing. When that happens, we do not need exporting anymore, we only need to bring the iron ore materials, the coal from our coal mining areas and limestone put together and you will have steel," Quijano said.

"Remember that a country will not move without the steel as the backbone industry. We hope that we will be able to actualize an integrated steel industry in the Philippines," he added.

Quijano encouraged the business community to try to look at the potential of the country to develop different industries using our own extracted minerals.

He reiterated that the country has innate mineral resources like ore, iron, copper, and gold which could be used to the country's advantage by processing and value-adding.

"Maybe, we should ask businessmen to integrate their acts together and say let's stop selling gold and let's start developing the jewelry business or other industries that would need gold," he said.

He said with the advancement of technology, this is indeed the "best time" to take advantage of the country's own natural resources for own benefit.

The vision to develop the industrial resources of the country will be one of the discussions during the First Philippine Industrial Summit in Mindanao on November 26-27 at the Limketkai Hotel, Cagayan de Oro City.