STEELASIA Manufacturing Corp. is pushing for the creation of a council for the iron and steel industry, composed of the private sector and the government, to help ensure its competitiveness.
“It is time for Philippines to have its own – a council for iron and steel [where] the government will charter the policy and support a competitive market-driven environment, industrial policies [which] must be revised to be in favor of [a more] efficient, of more technologically driven enterprises,” SteelAsia Chairman and CEO Benjamin O. Yao said during the Manufacturing Summit 2017 in Makati City on Wednesday.
Mr. Yao noted the industry development council created by the Department of Trade and Industry (DTI) is a “good start for the government and private sector to craft a policy and set standards for growth for these core industries.”
Citing other Asian countries as an example, Mr. Yao pointed out the need to have a coordinating council for “certain core industries” — such as iron and steel — which need more attention due to technical demands and special circumstances to monitor development and standards in its operations.
At the same time, Mr. Yao said they are in currently in talks with a former partner to build “an ecosystem of steel-based industry” which requires an investment estimated at $1.5 billion, and considered as the first step in forming an integrated steel industry.
“Those who venturing into manufacturing must be encouraged to build strong partnership not only to suppliers but also to customers and the present those with the best synergies will fly. Those who fail to build linkages will perish,” he added. — A.G.A. Mogato
