0:02 over the past two decades the
0:03 Philippines has pursued game-changing
0:06 structural reforms that led to high
0:08 sustained growth and relatively rapid
0:10 poverty reduction from being a sick man
0:13 of Asia the Philippines was recognized
0:17 as Asia's Rising tiger however in 2020
0:19 covid-19 struck and reversed some of the gains
0:21 gains
0:23 meanwhile fundamental changes were
0:26 unfolding digitalization accelerated and
0:28 whether patterns became increasingly
0:30 more volatile
0:32 geopolitical conflicts disrupted Supply
0:34 chains and caused High inflation worldwide
0:35 worldwide
0:38 slowdowns and recessions are foreseen in
0:39 many countries
0:42 the years under the pandemic taught us
0:45 many things but several stand out first
0:47 we have learned that maintaining robust
0:50 macroeconomic fundamentals is key to a
0:52 more rapid recovery and to preventing
0:54 deep socio-economic scars
0:57 second the Vitality of our economy is
0:59 only as good as the country's health and
1:02 education systems and third a whole of
1:05 government and whole society approach is
1:08 fundamental to policy effectiveness
1:10 drawing lessons from the past the
1:12 administration of Ferdinand Bongo Marcus
1:15 Jr has embarked on a mission of economic
1:18 and social transformation toward the
1:20 prosperous inclusive and resilient Society
1:21 Society
1:24 through the Philippine development plan
1:27 2023-2028 the Philippines Endeavors to
1:29 attain the following development goals
1:32 we will sustain the rapid growth of Real
1:36 gross domestic product or GDP at 6.5 to
1:40 8.0 percent each year with high growth
1:43 gross national income per capita is
1:45 targeted to increase to
1:47 6044 to
1:50 6571 US Dollars allowing us to attain
1:52 upper middle income country status
1:57 between 2024 and 2025. to be meaningful
2:00 economic growth must be inclusive
2:02 economic expansion will not just result
2:05 in more jobs but better and high quality
2:09 jobs and improved quality of life
2:11 we aim to reduce the unemployment rate
2:16 to 4.0 to 5.0 percent we also aim to
2:18 increase the proportion of wage and
2:20 salaried workers in private
2:24 establishments to 53.0 to 55.0 percent
2:27 by 2028.
2:29 working abroad will no longer be a
2:32 necessity for Filipinos only an option
2:34 better income earning opportunities must
2:36 be accompanied by the protection of
2:39 people's purchasing power we aim to keep
2:41 price increases manageable for the
2:44 ordinary Filipino by keeping both
2:47 headline inflation and food inflation to
2:49 within two to four percent throughout
2:51 the plan period
2:53 to ensure that economic growth is
2:55 sustainable in the medium term and that
2:57 the welfare of future Generations will
3:00 not be jeopardized sound fiscal
3:02 management will be implemented we aim to
3:04 reduce the national government deficit
3:09 to GDP ratio to 3.0 and the outstanding
3:11 national government that the GPB ratio
3:16 between 48 and 53 in 2028 we will
3:18 improve our Innovation ecosystem to move
3:20 up our ranking in the global Innovation
3:23 index and improve our score and rank in
3:25 the global competitiveness index to be
3:27 among the top 33
3:30 ultimately obtaining these targets will
3:32 allow us to dramatically improve the
3:34 welfare of filipinos with poverty
3:36 incidents reduced to single digit level
3:40 by 2028. these headline figures are
3:43 translated into measurable indicators as
3:45 well as annual targets that will guide
3:48 our strategies actions and budget over
3:50 the next six years
4:20 we have assembled the best Filipino
4:24 Minds to help navigate us to This Global
4:27 crisis that we are now facing
4:29 we will endure
4:33 let our Filipino Spirit ever remain undim
4:34 undim
4:38 in line with ambition not in 2040 the
4:39 Philippine development plan
4:42 2023-2028 contains transformative
4:45 initiatives and policies for our economy
4:49 Society institutions and the environment
4:52 these include cross-cutting strategies
4:55 such as digitalization more and better
4:57 public-private Partnerships improving
5:00 connectivity harnessing technology and Innovation
5:01 Innovation
5:04 serviceification and strong
5:06 collaboration between the national and
5:09 local governments we will transform the
5:11 economic or production sector to be
5:14 competitive and globally connected the
5:16 Agriculture and agri-business sector
5:18 will be modernized to make the sector
5:21 productive Diversified resilient and
5:23 strongly linked with industry and services
5:24 services
5:27 the industry sector will be revitalized
5:29 science technology and Innovation will
5:32 be key drivers of industrialization and
5:33 will increase the country's competitiveness
5:41 the services sector will shift from its
5:43 low level of productivity to become a
5:46 modern productive and resilient Global
5:49 leader providing higher value adding and
5:51 differentiated services
5:54 we will boost the tourism sector as a
5:56 driver of inclusive growth through
5:58 strong Partnerships with Enterprises and lgus
6:00 lgus
6:02 we will initiate hand-holding programs
6:05 for the creative Industries information
6:07 technology and business Process
6:10 Management sectors to enable them to
6:13 participate in global value chains and
6:15 to build the distinctly Filipino brand
6:17 of Tourism and culture
6:19 transforming the production sectors
6:22 entails promoting trade and Investments
6:24 including in research and development as
6:26 well as enhancing intersectoral linkages
6:29 through policies enabling open and
6:32 competitive markets businesses will be
6:34 assured of procedural transparency lower
6:37 transaction costs a healthy regulatory
6:41 environment and a Level Playing Field
6:43 to increase Filipinos access to more
6:46 economic opportunities we will transform
6:49 the social or human development sector
6:52 we will promote and improve lifelong
6:54 learning and education to increase
6:57 students success rates and Achieve our
6:59 targeted level of proficiency in reading
7:01 and math
7:04 to become globally competitive we will
7:05 work to increase the number of
7:07 educational institutions that are
7:10 reputable internationally
7:12 to boost Health we will provide Safe
7:15 Drinking Water basic sanitation and
7:18 nutritious food choices and Implement
7:20 other interventions leading to healthy
7:24 schools communities workplaces and
7:27 Lifestyles we aim to establish livable
7:30 communities through an integrated use of
7:32 space that will bring people closer to
7:35 work Recreation and Transit options
7:38 through production and effective Supply
7:41 management food security and proper
7:43 nutrition will be made accessible and
7:46 affordable we will strengthen our social
7:48 protection system to empower all
7:51 Filipinos to prevent respond to and
7:53 recover from various shocks by
7:55 streamlining contingency financing
7:58 mechanisms promoting digital cash
8:01 transfers and expanding insurance
8:04 coverage we will enable our Workforce to
8:07 earn higher incomes through skills
8:09 upgrading and updating
8:11 with more and better jobs in the country
8:15 we will reintegrate migrant workers back
8:18 into the domestic economy
8:20 to enable transformation our
8:22 institutions will be collaborative
8:25 responsive reliable and efficient in
8:26 providing Services
8:29 improving bureaucratic efficiency and
8:31 practicing good governance is the top
8:34 priority of this Administration
8:36 we will ensure sound fiscal management
8:39 and improve the tax regime and we will
8:42 support competent motivated agile and
8:44 resilient public servants the financial
8:46 sector will be more Innovative and
8:49 inclusive we will work for broad-based
8:52 access to digital Financial Services we
8:53 will promote the use of the philses
8:56 national ID and the financial sector
8:58 system linkage with the philses digital ID
9:00 ID
9:02 peace and security are important
9:05 requisites for growth and development we
9:07 will continue to invest in peace and
9:09 measures to protect people from
9:11 criminality from natural hazards and
9:14 other security threats we will enhance
9:16 the administration of justice by
9:19 strengthening civil penal commercial
9:21 administrative and non-traditional systems
9:24 systems
9:27 as a highly vulnerable country we must
9:29 adapt to climate change and protect the
9:31 environment in infrastructure
9:33 development climate change and
9:35 environmental impact will be a primary
9:37 consideration as we build disaster
9:41 resilience to maximize our use of
9:43 resources while considering future
9:46 Generations we will prioritize digital
9:48 infrastructure Intermodal transport
9:52 facilities water and energy
9:54 through a sound monitoring and
10:03 [Music]
10:05 we shall continue to build better and more
10:07 more
10:10 I do not intend to diminish the risks
10:12 the challenges that we face in this
10:15 turbulent time in global history
10:19 and yet I see sunlight filtering through
10:22 these dark clouds
10:25 despite the uncertainties clouding the
10:28 path ahead our long-term Vision remains
10:36 the Marcus Administration is committed
10:39 to sustaining our progress and turning
10:41 this ambition into a reality
10:43 the Philippine development plan 2023-2028
10:45 2023-2028 [Music]
