Trade Secretary Fred Pascual has enticed Singaporean businesses to consider the Philippines an investment destination. The country now leverages the Fourth Industrial Revolution technologies and its existing industrial strengths and competencies to upgrade, diversify, and reposition the Philippines' global value chain participation.
During his visit to Singapore, together with President Ferdinand Marcos Jr., Pascual told members of Singapore's private sector that the Philippine's top prioritization for fully-embracing innovation was anchored in the government's Strategic Investment Priority Plan that has three tiers, which include Tier 1 for modern agriculture and food processing, design-focused industries, energy efficiency projects, health, and medical products, and infrastructure projects.
Tier 2 includes green metals and electric vehicle manufacturing, health-related activities such as vaccine production, defense-related activities, steel and chemicals.
Tier 3, activities expected to generate research and development, breakthroughs, new knowledge, and intellectual property.
And to support the digital transformation of the whole government at different levels as well as the digital transformation of micro, small and medium enterprises, Pascual said the government, through the DTI, is launching an e-commerce platform to initiate and onboard MSMEs into the digital economy.
"The year 2022 will mark the takeoff of the Philippines' Artificial Intelligence Roadmap as we establish this year the Center for AI R&D and the Industry 4.0 Pilot Factory. CAIR will be a public-private partnership hub where data scientists and researchers can perform collaborative AI R&D for industries, produce AI products and services, provide AI training and learning materials, and support the digital transformation of industries, including small businesses and large enterprises," he said.
Further, he said the Department of Trade and Industry continues to attract AI R&D from multinational and big tech companies in the Philippines.