PHL a potential aerospace manufacturing hub — AIAP

The Philippines has the potential to be a center for manufacturing for the trillion-dollar global aerospace and aviation industry, an official of the Aerospace Industries Association of the Philippines said Wednesday. According to AIAP board of trustees member John Lee, the next two decades could see the country becoming a manufacturing hub of aerospace and aviation parts and components in the ASEAN region, generating jobs and providing "meaningful career developments" in the country. "The nature of manufacturing involved in aerospace products will entail highly skilled manpower that surely will facelift the capabilities of local labor to advanced stages of competence in varying degrees," he said. Lee said the local aerospace industry is “a net export industry," with 99 percent of industrial output manufactured for export. "[Aerospace] is a global extensive industry entailing over [$1 trillion in] business that will transform [into] highly beneficial gains for the country," he said. Lee said that the manufacturing industry for aerospace is fast gaining momentum, bringing with it related industries in the supply chain as well as other backward and forward linkages of industries. The aerospace industry projects a double-phased growth over the next five years, especially with the recent formation of the AIAP. The association will focus on the build-up of the aerospace supply chain; the promotion of productive partnerships between buyers and suppliers; the enhancement of the business environment through the government’s policy reforms and the formulation of strong government support structures; and the improvement of the technical base capability through manpower education and training, and technology systems upgrading. — BM, GMA News


Get stories like this on the Yahoo app and discover more every day.
Download it now.

Latest News