00:00 The measures put in place to grow the agricultural industry are steadily bearing fruit.
00:05 And investment pledges reaped from presidential visits abroad are trickling in to help catalyze
00:10 the momentum of agricultural growth.
00:13 More than enough reason for GoNegosio founder and PSAC lead person Joey Concepcion to wax
00:19 positive over the economy's prospects moving forward as we hear more from Alan Francisco.
00:27 The private sector advisory council is optimistic the Philippine economy will grow even further.
00:33 According to GoNegosio founder and PSAC lead for jobs Joey Concepcion, investments generated
00:39 from the state visits of President Ferdinand R. Marcos Jr. are gradually trickling into
00:43 the country's economy.
00:45 The government is also focusing in partnerships with the private sector in strengthening agriculture
00:50 as well as responding to green energy demands through the production of batteries and electric
00:55 vehicles.
00:57 The focus is also on further improving the ease of doing business in the country.
01:01 Because of this, Concepcion is confident this will lead to the creation of more jobs and
01:06 work opportunities for micro, small and medium enterprises that will definitely help develop
01:12 the economy.
01:13 Job generation will be generated through our MSMEs.
01:17 If we do well in the agri-sector, our farmers, if they are able to grow,
01:23 the agri-sector will have a huge impact here in the Philippines.
01:27 That's a huge, huge job generating sector.
01:31 And of course, the new areas like electric vehicles and all of that are also the future,
01:37 not only for the Philippines but for the world.
01:41 Filipino farmers are also benefiting from high rice prices around the world.
01:45 This is what Agriculture Undersecretary Leo Sebastian said, where the increase in the
01:49 price of rice is a result of unexpected shortage in rice supply worldwide due to the effects
01:55 of El Niño.
01:56 Based on data of the National Rice Program of the Department of Agriculture, the price
02:00 of fresh palay in March of this year has increased to over P17 per kilo, while dry palay is over
02:07 P19.
02:09 This is higher compared to the same month last year where fresh palay came to just over P15
02:14 per kilo, while it was over P18 for dry palay.
02:18 The price of fresh palay this April 2023 is more than P17 per kilo and more than P20 per
02:25 kilo for dry palay.
02:26 This is higher compared to April 2022 when fresh palay was only over P15 per kilo, while
02:32 dry palay sold for P17.
02:35 Central Luzon recorded the highest price of palay where fresh palay was P22 per kilo and
02:41 P25 for dry palay.
02:43 Alan Francisco for the Nation.
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