The Department of Trade and Industry (DTI) announced that the Philippine Export Development Plan (PEDP) 2023-2028 will be released on June 9, 2022. The PEDP will outline the government’s strategies over the next 5 years to increase the country’s exports of goods and services. The Export Development Council lowered its export target to $105.3 billion from $130 billion due to the impact of COVID-19. In 2021, exports of goods and services reached only $98.52 billion. The DTI aims to take advantage of the Regional Comprehensive Economic Partnership (RCEP) to improve the country’s exports industry. Investments will play a crucial role in improving the industry and diversifying the export basket. The DTI will focus on attracting investments and developing industries that can produce higher-value products.
