The construction industry is projected to contribute P130 trillion to the Philippine economy by 2030 under its new roadmap.
According to DTI Secretary Ramon Lopez, the Construction Industry Roadmap 2020 to 2030, which was created by the Department of Trade and Industry in partnership with the Construction Industry Authority of the Philippines and the Philippine Contractors Association, aims to boost the industry’s national contribution from last year’s P2.3 trillion to P130 trillion.
Lopez said the roadmap is meant to ensure the sustainability of the construction industry’s growth and competitiveness. The target, he said, is 325 percent larger than the projected P43 trillion growth without a roadmap. It would also increase job opportunities to seven million by 2030, he added.
Aside from identifying roadblocks, the roadmap is also expected to complement the government’s “Build, Build, Build” program.
“The roadmap is a proof of the Philippine government’s holistic commitment in improving the quality of construction services consistent with principles of sustainability, increasing the number of globally competitive Filipino construction industry players, and equipping the whole project cycle with efficient and modern technologies,” Lopez said.
Under the proposed measure, the country would have a 30-year Infrastructure Master Plan which would set a budget of at least five percent of the gross domestic product.
As the DTI is pushing for the development of the country as artificial intelligence (AI) center for excellence, Lopez said industries like construction could produce higher value software and hardware products and outputs with the use of technology.
“The role of innovation in construction development is very important. The construction ecosystem now has focus on finding solutions to the many challenges faced by the industry. And AI will be our answer to these challenges. An example will be machine learning that could optimize schedules to order target deadlines as well as detect discrepancies in blueprints and correct them through programmed scenarios. Imagine if the Philippines will be able to design and produce this kind of system for our construction industry. We could eventually start exporting knowledge processing in the future,” he said.
Source: Philippine Star
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