Department of Finance (DOF) Sec. Frederick Go – Photo from Department of Finance/Facebook
Finance Secretary Frederick Go identified business process outsourcing, semiconductor manufacturing, electronics, and renewable energy as the main sectors expected to drive employment growth in the country.
He made the remarks during the IMF-World Bank Spring Meetings 2026, according to a statement released by the Department of Finance.
Go said the BPO industry continued to expand by shifting toward higher-value services such as artificial intelligence, data analytics, and IT-enabled operations.
World Bank Vice President for Asia and the Pacific Felipe Jaramillo backed the view, noting that the Philippines was moving toward more advanced service industries in the region.
Go also pointed to continued investments in semiconductor and electronics production, with global firms expanding operations in the country and creating more jobs.
He said renewable energy development was also gaining momentum, citing wind, solar and geothermal projects as major contributors to future energy and employment needs.
The DOF chief said government reforms were being implemented to strengthen investor confidence, including policies aimed at improving incentives and streamlining business regulations.
He also noted ongoing efforts to improve education and skills training, saying these were needed to ensure workers could meet the demands of emerging industries and support long-term job creation.