TOKYO, Japan — President Ferdinand “Bongbong” Marcos Jr. assured Japanese investors Thursday that the Philippine government will intensify efforts to upskill and reskill Filipino workers to remain competitive under the new global economy and technological advances.

Marcos said this during the roundtable discussion with Japanese semiconductor, electronics, and wiring harness companies on Thursday, Feb. 9., here.

In his remarks, the President noted the programs that Japan has introduced to upskill and reskill the workforce.

“It’s very clear that we are shifting in the world economy, away from the more traditional, industrial activities to a high technology world,” he said.

“We have listened to your concerns and your issues, and we intend to respond to these challenges with a whole-of-government approach,” he added.

Marcos expressed confidence that with the proper training and assistance of the Filipino workforce, the Philippines can provide the technical human resources which are going to be required by the new economy.

He added that his government puts a premium on the operation of Japanese companies in the Philippines, being the country’s prime job generator, a support provider for sectors critical to industrial development, and a value creator through innovation in manufacturing worldwide.

The President likewise promised to address the issues raised by bus executives, such as value-added tax (VAT) refund issues, logistics, and staffing requirements, among others.

“And it is why we have taken note of the comments that you have made, specifically in the areas of the VAT exemption, the problems of logistics and supply chains, and to that end, the infrastructure development in the Philippines has actually been accelerated,” Marcos said.

“The hope is that our strength in these sectors will beget more strength in the entire Philippine industrial landscape to the benefit of the Philippines and also of our partners and our investors,” he added.

According to the Chief Executive, the Philippines aspires to become a hub of excellence for sectors where it has a natural comparative advantage, particularly as a regional hub for printers, wiring harnesses, and other electronic goods.

The Philippine wiring harness exports have been growing on average by nine percent every year from 2000 to 2021, and are now the fourth-largest exporter of wiring harnesses in the world.

The automotive wiring harness market is expected to surpass US$93 billion this year, with global demand for greater fuel efficiency and electric vehicles fueling growth in the coming years.