PH mining set to boost green tech, jobs – NEDA

The Philippine mining sector is on the brink of becoming a major force in green technology and high-quality job creation, according to the National Economic and Development Authority (NEDA).

During a recent forum, NEDA Secretary Arsenio M. Balisacan emphasized the untapped potential of this industry, which could significantly contribute to the country’s economic growth.

Despite mining’s modest 0.5 percent contribution to the gross domestic product in 2023, Balisacan noted that only 0.17 percent of the nation’s mineral deposits are currently developed. This underutilization points to substantial growth opportunities, particularly in employment, where mining and quarrying jobs comprise just 0.45 percent of total employment.

“With abundant reserves of minerals vital for producing green technologies such as solar photovoltaic cells, wind turbines, and electric vehicle batteries, the Philippines is strategically positioned to tap into global markets and maximize the value derived from its mineral products,” Balisacan said.

The Philippine Development Plan (PDP) 2023-2028 outlines strategies for increasing value addition in the mining sector while ensuring economic stability and advancing climate action initiatives.

Balisacan acknowledged, however, that challenges such as limited mineral processing technology, high capital and operating costs, and an unstable policy environment are substantial barriers.

To combat these issues, the government plans to bolster local industries through research and development (R&D), reduce electricity and logistics costs, and foster a more stable policy environment to attract private sector investments in green technologies.

“We expect the mining industry to support our manufacturing, infrastructure, and construction sectors, creating more and higher-quality jobs for Filipinos while advancing our commitments under the Paris Agreement,” Balisacan explained.

The mining forum, organized by the Department of Environment and Natural Resources in collaboration with the Stratbase ADR Institute, aims to unite industry experts and stakeholders to implement policy reforms and position the Philippines as a significant contributor to the global green economy.

LEAVE A REPLY

Please enter your comment!
Please enter your name here