The Philippines Industrialization: A Disaster

Is the Philippines Truly Industrialized? The Misunderstood Reality of the Country's Economic Development

Narrated by Tom McKay
Video Edited by iyanbriandi

Timestamp(s):
0:00 Newly Industrialized Country?
3:07 The Philippine First
4:55 The Marcos Plan
6:18 Service-based Economy
9:25 Conclusion

Brought to you by the Behind Asian Team.

[BehindAsia]

While the Philippines has faced challenges in industrializing in the past, recent developments suggest a shift towards manufacturing with increased foreign investments and infrastructure improvements. Do you believe this will lead to a re-shaping of the country's industrialization plan in the near future?

[Kraken]

I never felt like the old laws barring foreign investments in business were originally meant to "protect small business" but over time it was more about "protecting oligarch monopolies". Why would the rich want to compete and advance their nation when they could grow their wealth by hundreds of millions of dollars instead?

That's why we've fallen behind other countries where even the elites care about their country beyond just money.

[ericksonlainemedina]

Agriculture's technology advancement, identifying natural resources, inter-island connectivity, import mentality and inequality of opportunity are some of the top factors which are holding us back to boost our economy.

[adzizi]

I really love seeing ASEAN countries being very competitive towards each other.

[passported]

Industrialization is the way to go for the Philippines to be progressive and modernized. Due to the location of our Country its difficult for us to rely heavily on Agriculture, our country is not geographically gifted unlike Thailand, Indonesia, Vietnam...etc..We are the first one to be hit the hardest during the rainy season, very hot during summer. We are situated in Pacific Ring of Fire. So Agriculture I think will be very difficult to prosper esp now we the effects of climate change. Japan and Taiwan is same with us, we all facing the pacific ocean. But they were able to survive and progress because they have a very good plan in industrializing their Country.

[freshbakedclips]

3:39 I kinda agree with "the perfect move".

As a Filipino and a regular consumer of new products, I would prefer to buy local products because it has become diverse enough as compared in the past.

Imported goods like noodles, seasonings, condiments, and snacks have little to no appeal for me as they tend to be 3x more expensive than the local competition.

[mizsaigon]

Cost of electricity is high. Foreigners cannot fully own shares in a corporation, however the recently approved Public Service Act should help address this. And yes, the author of the article got it right; i dont think the oligarchs wanted to open the market to new players. It’s all about greed.

[freshbakedclips]

We still need key infrastructures like Railway (Mindanao and Visayas) and Nuclear Power Plant to become full-fledged Industrialized country.

[yngvesognen]

I think that a good first step would be to remove import barriers. That would make manufactured goods cheaper, and those involved in unprofitable production would have to focus and find something better to do.
There are significant investments coming from Japan and probably elsewhere too.
Progress may be slow now, but will speed up as new generations have fewer kids with better education and better jobs and incomes.

[jackibagbaga]

I don't understand why Philippines is not a hub for pharmaceutical companies with all the medical schools could also be research and development.

[urbanjungle]

Great analysis, one of the better ones you have done. One point to note though, The Philippines cannot in its current form support rapid industrialization due to its appallingly bad infrastructure. Electricity generation and supply and water distribution is too unreliable and heavy industry will not base itself in the country unless these are addressed. The government, both current and past have an obsession with building roads and billion dollar bridges but if people cannot have 24/7 electricity and piped water then all the bridges in the world are worthless. They need to open up the electric supply to 100% foreign ownership and competition whilst offering generous tax incentives for investment. If this isn’t done factories will not be built.

[harukrentz]

Every newly industrialized country will spend most of their money to build infrastructures, be it road, public transport, power plant, dam, everything that will help their factories to manufacture the products. This phenomenon happened in USA in late 19th century and China in the start of 21st century. The Philippines and my country, Indonesia need to focus to do the same.

[maumuapa]

Indonesian manufacturing is already 20% of GDP, problem is not that, but technology transfer, it is difficult to persuade foreign companies to transfer technology & we always ask for 10-90% share ownership or partner with local companies, that's why we profit bigger than Malaysia & Thailand.

Indonesian steel mills have become the largest in Southeast Asia and use the world's most advanced technology to support industry defense, vehicles, buildings, infrastructure, agriculture, energy etc.

[kurandsmapagmahal.t.v]

I am very proud of what the country has becoming now. Working in a manufacturing industries is now a trend in the Philippines now. One of the factors needs to pay attention is that, the safety of the workers because we are now becoming one of the booming service sector in the industrial field. The great potential for safety eyewear SOFTGLE COMFORT is now a trend!

[Durianshake]

Well done .... I hope Philippines pseudo politicians or wanna be people workers will listen and recognize the problems, in order to move on and properly address the problem... Industrialization thru manufacturing and infrastructures is a MUST....

One of the main problem that they need to address as well that affect all businesses, is improper land use... No proper organization of land use.... The basic battle of common good vs. personal rights...

[elgad]

Philippines don't need to be industrialized., because we have beautiful nature to protect., some people relying on tourism., is up to government of the Philippines if they want this country to be industrialized.,

[s.t.santos]

I think the Philippines is on the right track as regards industrialization. I'd rather that the Philippines focus on agriculture while industrialization takes its normal course (PBBM is doing that, I believe). Slowly but surely, we are getting industrialized while being less dependent on food imports, an ideal scenario for any country.

[rogueagent]

BPO and service industy are booming only because of lack of choices for most people to work elsewhere (ex.manufacturing) There's not a lot of manufacturing companies that offer attractive compensation and position. The analysis in this video is accurate.


Philippines laging kulelat

[monkeymaster]

I think a better indicator to use to compare the countries would've manufactured value added per capita. Additionally, a timeseries chart showing if it's been stagnant or has declined in recent years

[joshpowerTv]

Another factor is the beraucracy in the philippines and harden for foreign investor to invest .another factor lacked of vision .i think we need to invest more in steel, shipping and military industry