The Philippines’ timber industry believes it could generate P14bn a year if the government invests in the sector and removes restrictive polices.
The Philippines Wood Producers Association said the government had a passive attitude to the development of forest resources and was guilty of poor governance.
It believes direct investment into the industry could result in annual exports of P7.7bn, cutting imports worth P2.75bn, as well as creating 37,600 jobs.
The sector’s contribution to economic growth has slid to just 0.1%, while forest cover is estimated to have fallen from 17 million ha in the early 1930s to seven million ha today. Many wood processing facilities are closed as a result.