Sunday, August 25, 2019

SEA Games seen to boost Central Luzon economy

THE Southeast Asian Games in the Clark Freeport is expected to bring more business into the region, according to the Department of Trade and Industry (DTI) regional office.

DTI Regional Director Judith Angeles said they also expect a rise in the number of establishments this year as the construction industry is expected to continue to grow.

Latest data from the Philippine Statistics Authority (PSA) showed that the wholesale and retail trade sector remains the dominant category among the number of business establishments in Central Luzon.

Based on PSA’s latest data on List of Establishments, Central Luzon listed a total of 103,329 enterprises, the third highest in the country after Calabarzon region with 137,808, and National Capital Region with 192,316 establishments.

Of the total number of establishments in the region, 47 percent or some 48,501 are classified under the wholesale and retail trade category, the biggest among all categories.

It was followed by manufacturing with 13,367, while 11,179 were listed as belonging to the accommodation and food service categories.

In 2015, there were 101,176 business establishments in Central Luzon as listed by the PSA. This grew to 103,546 in 2016 and slightly decreased to 103,329 in 2017.

In 2018, the DTI-3 reported that it has assisted a total of 29,443 establishments throughout the region through its provincial offices providing services such as business advisory, trade fair assistance, export assistance, Shared Service Facility provision, product development, mentoring, financial linkage, market matching, training and other capacity building programs and types of assistance.


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