Name: CORDIS, Rovic S.

Program & Block: BSA-3A

Activity 3_Prelim _ EconDevt

To achieve economic development in the Philippines, several key factors need to be considered
and addressed. The following questions can help us explore the different aspects of achieving economic
development in the country.

1.How can the government promote inclusive economic growth in the Philippines?

Promoting inclusive economic growth in the Philippines is an important objective for the government as
it aims to improve the living conditions of its population, reduce poverty, and minimize the wealth gap.
To achieve this goal, various strategies can be used, and the government can play an important role in
providing their success.
To begin, the government can give micro, small, and medium-size business with financial and technical
help. Such businesses represent the backbone of the economy and can make a significant contribution to
inclusive growth. The second step, the government might prioritize infrastructure development in both
urban and rural areas. The government may promote the movement of products and services, attract
investments, and generate job opportunities by investing in roads, public transportation systems, and
water and sanitation facilities.

Furthermore, the government might invest in programs for education and skill development. The
government can provide individuals with the required skills and knowledge to participate in the
economy as a whole by providing quality and accessibility of education for all. Finally, the government
must prioritize social welfare programs. This includes implementing full health coverage, enhancing
social security systems, and providing conditional cash transfers to the most vulnerable parts of society.

2. How can the agricultural sector be revitalized to drive economic development in the Philippines?

Agriculture is an essential component of the economy in rural areas, where the majority of Filipinos live,
hence the sector is important for inclusive growth. Agriculture is critical to economic growth and
success. It is essential to human existence because it provides food. It contributes significantly to
economic activity in other areas of the economy as a supplier of industrial raw materials. Agriculture
consumes a significant amount of natural resources, mainly land and water. Its efforts have a significant
impact on the availability and quality of these resources. Agriculture, as a natural business, has a
significant impact on ecosystems and nonagricultural plants and animals, notably in terms of
biodiversity.

3. What strategies can be employed to address unemployment and underemployment in the

Philippines?
Unemployment refers to somebody haven't got a job, whereas underemployment means that your
present position is insufficient. In addition to increased poverty rates, underemployment causes slow
economic growth, lower Gross Domestic Product (GDP), structural unemployment, and psychological
difficulties.

There are several strategies that the government can use to reduce the rate of unemployment and
underemployment in the Philippines, such as changing the education system, expanding employment
exchanges, providing more assistance to self-employed people, focusing on full and productive
employment, increasing the production rate, and emphasizing employment programs.

People who learn work skills are more likely to get hired for higher-paying employment. Vocational
training is the process of educating people the skills necessary to work in a given industry. Job training is
a great investment to boosts people's chances of finding a job. Along with this, the growth in manpower
industry can effectively solve the concern of unemployment in the Philippines.

4. How can sustainable tourism contribute to economic development in the Philippines?

The development and preservation of a sustainable tourism sector in a specific location while ensuring
that the industry is as sustainable as attainable. It produces social and economic benefits to the citizens
of the area. The most important economic aspect of tourism-related activities is that they contribute to
three goals that are highly important of developing countries: revenue production, employment, and
foreign-exchange earnings. The tourist industry has the potential to be a significant economic
development factor. Tourism can lead to economic development since it creates financial resources and
foreign currencies. It can also lead to the creation of business opportunities that rely on tourism revenue
or local sourcing of materials. Furthermore, increased employment opportunities, increased
infrastructure, and higher product quality are all included.