Philippine Economy on Cusp of Growth Amid Tech Advancements & Sustainability Focus — Laguesma
Business Weekly | 1 January 2025
Pairs of high-quality shoes made in Marikina City are shown to members of the media during a tour of C Point Manufacturing’s shoe factory in Barangay Concepcion Uno on Aug. 7, 2019. — PHILIPPINE STAR / BOY SANTOS
THE PHILIPPINES is on the cusp of a significant economic growth in 2025, which will be driven mainly by technological advancements, as well as the heightened focus on sustainability and wellness, according to its labor chief.
“The Philippines is on the transition of a substantial economic expansion, fueled by technological breakthroughs, heightened environmental consciousness and a growing emphasis on healthcare and wellbeing,” Labor Secretary Bienvenido E. Laguesma told BusinessWorld in a Viber message.
On this note, he said emerging sectors, such as the digital economy, green economy, blue economy, and care economy, are “projected to experience significant growth.”
Federation of Free Workers President Jose Sonny G. Matula likewise expects growth in tech-driven industries as the Philippines is rapidly becoming a global player in technology due to its skilled workforce and supportive business ecosystem.
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