The country will achieve growth rates surpassing the 7-percent mark by unleashing the huge potential of mining, and the revitalization of the steel industry, according to a ranking executive of the Department of Science and Technology (DOST).
Dr. C.P. David, DOST executive director of the Philippine Council for Industry, Energy and Emerging Technology Research and Development (DOST-PCIEERD), and concurrently, Stratbase ADR Institute (ADRi) trustee, said: “Inconsistent policies and the lack of a long-term development agenda for the country’s natural resources has delayed the efficient harnessing of an estimated $1.4 trillion in mineral reserves, hence we see the urgent need to partner, with the mining industry in a series of research projects to develop a long-term national road map that will integrate the development of mining, steel and other downstream industries,” David said.
The strategic role and potential of the mining industry issues blocking the revitalization of vital industries, such as steel and manufacturing, were highlighted during the signing of a memorandum of agreement between the DOST-PCIEERD and the Chamber of Mines of the Philippines.
The partnership was forged based on inputs from the mining industry, academe and
environmental advocates through consultations organized by the Stratbase ADRi in partnership with the Philippine Business for Environmental Stewardship (PBEST).