IF elected president, Davao City Mayor Rodrigo Duterte will aggressively push for the revitalization of the country’s forgotten steel industry.
The country is currently relying mostly on steel imports despite the booming construction industry. The country’s production of flat products was crippled by the 2008 financial crisis.
The National Steel Corp. in Iligan City was shut down in 2009. Formerly owned by the government, it was turned over to the private sector in 1995 — from a Malaysian investor to an Indian investor until its closure.
According to Duterte, the revitalization of the steel industry will be the highlight of his industrialization plan. Industrialization, he said, is needed to generate local jobs for the people.
“Steel is needed everywhere. It is the mother of all industries and the backbone of industrialization and will allow us to build all we need in our country like cars and weapons,” he said.
The government, he said, must build industries and factories to be able to provide employment for the Filipino people. If local employments are available, Duterte believes that Filipinos need not go out overseas to look for jobs.
“Industrialization is key to real economic growth. We should realize our dream of having our own steel industry,” said Duterte as he outlined his economic agenda if elected president.
For his industrialization agenda, Duterte said there is a need to “correct some of the country’s laws or come up with a Code of Economics.” JMT