Despite the fall in FDIs in July, one economist is still hopeful about the Philippines,…
Protecting and promoting PH forest cover is important, according to PBBM.
On Saturday, President Ferdinand R. Marcos Jr. stressed the value of maintaining the nation’s forest cover to promote economic development.
The nation’s forest cover is a “highly precious asset for the Philippines,” according to Marcos, who made this claim at a press conference in Fort del Pilar, Baguio City.
“Now, forest cover is actually a monetizable asset. You might value it in dollars, pesos, “added he.
“We can benefit from taking a more active role in encouraging, regulating, and monitoring the maintenance of our forest cover and of all of our natural assets. It’s quite crucial.”
15 million hectares of land that are designated as forests are under the control of the Department of Environment and Natural Resources.
According to the most recent 2020 data gathered by the National Mapping and Resource Information Administration, the country’s forest cover expanded from 6.8 million hectares in 2011 to 7.2 million hectares, a 5.6 percent increase (NAMRIA).
For the forestry industry, which has great potential to expand and contribute to the expansion of the Philippine economy, the DENR has already established strategic plans and initiatives.
A real-time, single-point access forestry investment site that offers information and services on forestry investment and areas that are ripe for development and utilization is another strategy the department is using to create a favorable investment climate.
Links to partner financial institutions’ financial and credit resources, such as the Development Bank of the Philippines, which aids the DENR’s agro-forestry plantation program, will be available on the platform.
For a limited number of tree species in established forest plantations, it will also provide access to insurance plans from the Philippine Crop Insurance Corp.
As he acknowledged the crucial part the mining industry plays in his administration’s economic strategy, Marcos added that the government will also keep pushing ethical mining in order to prevent a repetition of past accidents.
“So, it really just comes down to upholding the law in terms of responsible mining, and we’ll keep doing that. We will always ensure that the mining companies that enter the area leave the site in the same state that they found it when they began mining “said he.***
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