PUBLICLY LISTED MANUFACTURING FIRMS UNDER INDUSTRIAL SECTOR

The industrial sector in the Philippines Stock Exchange has three (3) sub sectors namely

the food, beverages and tobacco, chemical, and other industries. Moreover, The Philippine

chemical industry is one of the country’s largest manufacturing sectors and supplies products

used in many other sectors including agriculture/agribusiness, electronics, food processing,

healthcare, national defense, and packaging. The industry’s primary aim is to transform the

country’s rich natural resources into higher-value products that meet the needs of domestic and

global markets (Bellen, 2017). The chemical industry is a vital sector that plays a crucial role in

the global economy, contributing significantly to various aspects of daily life. It encompasses the

production, processing, and distribution of a wide range of chemicals that are utilized in

countless products and applications.

The Philippine manufacturing industry continues to play a pivotal role as the most vital

sector for fostering long-term productive employment, generating value-added contributions, and

driving innovation. Often referred to as the "engine of the economy," manufacturing boasts the

highest multiplier effect compared to other sectors, making it a cornerstone of economic

development.(Lopez, 2017)

According to Conchada(2013), the manufacturing industry remains crucial for economic

development, supported by consistent demand from developed nations. The outsourcing of

production tasks to developing countries further contributes to the sector's significance.

Additionally, the Philippine economy has shown remarkable growth in the last two quarters,

indicating its strength and resilience. The manufacturing industry is a cornerstone of global

economic development, encompassing a vast array of processes involved in the creation,

production, and assembly of tangible goods. However, the industry faces challenges, including

the need for sustainable practices, adapting to rapidly changing technologies, and addressing

global supply chain complexities.

The Philippine manufacturing sector is a thriving and dynamic industry that requires

robust support through effective fiscal and monetary policies, infrastructure development, and

advancements in information and communication technology. A conducive political environment

is imperative to attract and retain foreign investors. Additionally, prioritizing regional

development is essential to ensure that the growth of the manufacturing sector is inclusive and

benefits a broader spectrum of the population.(See,2013).