MANILA, Philippines - The Department of Trade and Industry (DTI) has convened the Industry Development Council (IDC), a body which will identify interventions to support the country’s overall industrial development.
In a statement, the DTI said the IDC will serve as the coordinating body to implement the different industry roadmaps as well as the Comprehensive National Industrial Strategy.
The IDC meeting was attended by senior officials from the Department of Foreign Affairs, Department of Environment and Natural Resources, Department of Energy, Department of Labor and Employment, National Economic and Development Authority, National Competitiveness Council, Philippine Chamber of Commerce and Industry, Federation of Philippine Industries, and Filipino Federation of Chinese Chambers of Commerce and Industry Inc.
The IDC was created in December 1996 by virtue of EO 380 signed by then President Fidel V. Ramos to recommend approval of the Industrial Development Plan of the Philippines in line with the Medium-Term Philippine Development Plan and the Philippine Export Development Plan.
The council however, stopped convening a decade ago.
The DTI decided to revive the IDC as part of its thrust to promote the growth of local industries given the Association of Southeast Asian Nations (Asean) economic integration and other free trade agreements.
“The IDC is a collaboration to further strengthen local industries and enhance their competitiveness to take advantage of the opportunities with the implementation of the Asean Economic Community (AEC) in 2015 and the other free trade agreements,†Trade Secretary Gregory Domingo said.