'Jobless growth' phenomenon haunts Philippines economically

The ADB suggested more government support for the industrial sector through investments in education, skills training and infrastructure to achieve inclusive economic growth.

In June 2013, Joey Salceda, the governor of Albay province, who was an economist before becoming a politician, had a mouthful to say about the buzz phrase "inclusive growth".

Philippines' business process growth fail on talent retention

He suggested that the government invest in the countryside to address the high unemployment rate, warning that "social injustice is very much stubborn and structural, historically persistent and policy-immune".

Saying that the economy's problems had been "over-studied and over-discussed but under-solved", Salceda called on the government to shift the focus of its investments strategy from Metro Manila to the countryside.

"Go for low-lying fruits, or where the growth is easy because the base is lower - and where else but the countryside? How far can we squeeze growth out of the National Capital Region when in fact the solution is decongestion?" he said, lamenting that private investments were concentrated on the property sector.

The agriculture sector is a very good example of where investments should go.

Why should Filipinos content themselves with just producing and exporting raw copra or bananas, or the fresh catch from their seas?

The government must make it conducive for investors to put money in factories and manufacturing facilities to bring the agricultural sector a step higher - processed agricultural products.

The Philippines is not lacking in solutions to the worsening unemployment problem. The private sector, not the government, is the engine of economic growth.

Filipinos need only political will on the part of the government to build roads, sea and air ports and other infrastructure, and remove restrictions to the flow of local and foreign investments, and for the private sector to do its part by investing in job-creating activities, particularly in the countryside.

Philippine Daily Inquirer, Asia News Network. The views do not necessarily reflect those of China Daily.

 

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