DTI seeks to advance construction sector

During the recent induction ceremony of the Council of Engineering Consultants of the Philippines (CECOPHIL) Board of Directors, Department of Trade and Industry (DTI) Secretary Fred Pascual underscored the significance of advancing the Philippine construction sector to support the overall realization of the country’s development agenda as he congratulated the Council’s new leadership team.

Marked as the first significant assembly post-pandemic, the event was not only a celebration of new leadership but also a testament to the enduring partnership between the DTI, through the Construction Industry Authority of the Philippines (CIAP), and CECOPHIL in steering the construction industry towards global competitiveness and innovation.

Pascual emphasized the significant contributions of Filipino engineers, carpenters, welders, plumbers, and glass installers both locally and internationally, which have resulted in substantial foreign exchange earnings and employment opportunities for the Filipino workforce.

“The Filipino engineering community, encompassing engineers and skilled carpenters, welders, plumbers, and glaziers, has constructed marvels not just here but across the globe. This has earned significant foreign exchange for our country and created countless job opportunities for Filipinos,” he said.

The trade secretary also acknowledged the critical role of the construction industry in achieving President Ferdinand R. Marcos Jr.'s vision for a "Bagong Pilipinas," where high-quality and better-paying jobs are generated, improving the lives of Filipinos.

According to the Philippine Statistics Authority (PSA), the construction sector's impact on economic growth was evident with a contribution of 8.8% to the overall gross domestic product (GDP) in 2023 and a recorded growth rate of 5.6%.

The DTI has also been advocating for the enhancement of the ease of doing business in the construction sector, including the digitalization of the licensing process through the Philippine Contractors Accreditation Board (PCAB) as well as the streamlining of public consultations for industry stakeholders.

Moreover, the enactment of the Public-Private Partnerships Code and the amended Foreign Investments Act serve as critical steps toward facilitating investment and fostering a more competitive construction industry.

Secretary Pascual said that the DTI is intensifying trade negotiations with its partners nations this year. Apart from CECOPHIL, the DTI’s CIAP actively engages with other industry stakeholders as part of its mission to champion the Philippine Construction Industry Roadmap 2020-2030, which aligns with the President’s Build Better More Program.