sts 4

• The Philippine Development Plan 2023-2028 serves as the country’s overall blueprint in development planning for the next six years.
• The Philippine Development Plan 2023-2028 reflects the government’s policies, strategies, programs, and legislative priorities in support of and consistent with President Ferdinand R. Marcos, Jr.’s Socioeconomic Agenda.
• The Philippine Development Plan 2023-2028 aims to reinvigorate job creation and accelerate poverty reduction by steering the Philippine economy back to its high-growth trajectory and effect economic and social transformation for a prosperous, inclusive, and resilient society.
• The Philippine Development Plan 2023-2028 aims to keep food and overall prices low and stable.
• The Philippine Development Plan 2023-2028 aims to expand the opportunities available to Filipinos by protecting people’s purchasing power.
• The Philippine Development Plan 2023-2028 aims to maintain annual economic growth rate between 6.0 to 7.0 percent in 2023 and between 6.5 to 8.0 percent from 2024 to 2028.
• The Philippine Development Plan 2023-2028 aims to create more, better, and more resilient jobs by 2028, with the unemployment rate within 4.0 to 5.0 percent and the percentage of wage and salary workers in private establishments to total employed within 53 to 55 percent.
• The Philippine Development Plan 2023-2028 aims to enforce fiscal discipline to ensure the sustainability of growth, with the national government deficit to GDP ratio gradually reduced from 6.5 percent during the first half of 2022 to 3.0 percent in 2028.
• The Philippine Development Plan 2023-2028 aims to transform the production sectors through innovation, with the Philippines aiming to continue its progress among the innovation achievers of the region by ranking higher and within the top 33 percent of the Global Competitiveness Index by 2028.
• The Philippine Development Plan 2023-2028 aims to reduce poverty incidence from 18 percent in 2021 to between 8 to 9 percent by 2028.
• Policies enabling open and competitive markets will complement these reforms.
• The PDP seeks to bring local governments in as equal partners in the development agenda of the country.
• The Philippine government will strengthen and facilitate PPPs, trade and investments, research and development, and technology transfer, while encouraging robust competition.
• A dynamic innovation ecosystem will mean new products, more efficient processes, and even bigger market share.
• PPPs are expected to upgrade the country’s energy, logistics, transportation, telecommunications, and water infrastructure.
• The Plan aims to optimize the sharing of responsibility between local and national government to raise each LGU’s capacity for delivering public services and raising local revenues.
• The goal is to make it easier for companies to compete and innovate while upholding consumer protection.
• Foreign direct investments will be harnessed as drivers of export growth, sources of vital technology, and critical enablers of the country’s long-term climate action.
• Technology and innovation-based strategies for the agriculture, industry, and services sectors lay out a whole-of-government approach to establishing and strengthening the innovation ecosystem.
• Businesses will be assured of lower transactions costs, a healthy regulatory environment, and protection from anti-competitive practices.
• Enhanced connectivity is important to link markets, connect urban centers to rural areas, and facilitate the movement of people where opportunities for employment or health care and education are better.
• Public-Private Partnerships can help address cross-cutting issues of a weak competition environment and the digital divide, as well as boost the country’s campaign to attract foreign investments.
• Six cross-cutting strategies will serve as catalysts for economic, social, institutional, and environmental transformation: As the country faces environmental threats and climate change risks, the government will also ensure that our natural resources are optimally used without compromising healthful ecology for present and future generations.
• Connectivity will be ramped up within the country and to the rest of the world to revitalize tourism, facilitate trade, and attract more investments.
• Through the strategies identified in the Plan, the Philippines will be open for business as it seeks to regain its position among the most dynamic economies in Asia and the world.
• The government shall build on game-changing reforms to the investment environment such as the amendments to the Foreign Investment Act, Retail Trade Liberalization Act, and Public Service Act, as well as the passage of the Corporate Recovery and Tax Incentives for Enterprises Law.
• The Philippine Development Plan 2023-2028 aims to reinvigorate services, with the Philippines’ services sector shifting from its low level of productivity to become a modern, productive, and resilient global leader providing higher value-adding and differentiated services.
• The Philippine Development Plan 2023-2028 aims to boost the tourism sector as a driver of inclusive growth through strong partnerships with enterprises and local government units.
• Digital transformation of government will result in more efficient and faster service delivery, more transparency, and fewer opportunities for corruption at various levels.
• Establish livable communities by upgrading and planning human settlements such that an integrated use of space will bring people closer to work, recreation, and transit options.
• Revitalize industry by pursuing business-matching and encouraging innovation, technology adoption, and servicification or embedding services into manufacturing to add greater value to local products.
• The government will enable opportunities for collaboration through the co-location of data-based enterprises and academic institutions.
• Boost health through interventions leading to healthy schools, communities, workplaces, and lifestyles.
• A whole-of-government and whole-of-society approach is fundamental to policy effectiveness.
• Priority servicification can also be targeted towards the industries of information and communications technology, creatives, tourism, and logistics to move up the global value chain.
• Promote and improve lifelong learning and education by providing access to high-quality learning opportunities that develop adequate competencies and character qualities.
• Key transformation strategies for the economic or production sector include: Modernize agriculture and agri-business to raise overall productivity, move Philippine products up the value chain, promote diversification, and ensure food security.
• Pursue policies building ecosystems around manufacturing clusters identified as potential sources of high growth.
• Strengthen the social protection system by integrating safeguards into development interventions and by streamlining contingency financing mechanisms, strengthening the delivery of digital payments of cash transfers, and expanding insurance coverage.
• Ensure food security and proper nutrition through production and effective supply management.