Metro Manila has long faced issues of decongestion. With businesses opening left and right to buildings rising one after another, those seeking for better jobs continue to flock to Manila resulting in overcrowding and traffic congestion. Data shows that through the government’s various efforts, numerous areas are now looking to become the new metropolises and pose as the other economic capitals of the country. According to an article by renowned economist Dr. Bernardo M. Villegas, “… In 2021—the post pandemic recovery year– CALABARZON or Southern Luzon was the fastest growing region at 7.6 % which was much above the national growth of 5.7 %. The National Capital Region (NCR) grew at a lackluster 4.4%.” This explains that other regions are now at the forefront of economic growth i.e., Region IV-A CALABARZON, Region III – Central Luzon, Cordillera Administrative Region (CAR) and Region XII – SOCCSKSARGEN. One of the contributing factors to this shift can be attributed to the government’s “Build, Build, Build” program which developed “… Infrastructure projects like the railway from Clark to Bulacan to Calamba and finally all the way to Bicol (which) will be completed in the next few years with the assistance of the Japanese. The International Airport project of San Miguel Corporation in Bulacan will be a major game changer. Another game changer for Central Luzon will be the bridge that will be constructed connecting Cavite to Bataan, passing through the island of Corregidor.”
LGUs should also give importance to balancing the enforcement of safety protocols while still coming up with activities to boost the economy. Take Baguio City, for example; many Filipinos started their “revenge traveling” by spending their Holy Week this 2022 at the City of Pines. With the LGU’s appropriate enforcement of health guidelines, Filipinos were able to enjoy the summer which helped grow domestic tourism.
Taking all these into consideration, it can be said that Foreign Direct Investors have the chance to partner with various LGUs and invest in public properties or services to further develop the already growing metropolises in the country. For example, Dr. Villegas states, “Acciona, a powerful Spanish conglomerate involved in infrastructures ownership and management all over the world, already announced its plan to invest as much as $12 billion in the Philippines for the development of infrastructures, especially water utilities.”
So, how then can CRC help you, as an FDI? Firstly, the Center for Research and Communication is the leading research and consultancy services firm in the Philippines with a vast network and experiences in sectors like the Digital Sector, Energy, Food and Agribusiness, Infrastructure and Industry as well as Transportation and Logistics. In addition, LGUs also consider CRC as highly knowledgeable in the Public Service Law, brought about by its partnership with the DILG. Foreign Direct Investors can be assured that they will be in good hands as CRC offers various consultancy services with customized offerings to address your goals. From finding local partners and providing briefings on Philippine regulations and ways of business to evaluating the demand for products and the technical requirements for setting up shop, CRC can be your key partner in the quest for a foothold in the Philippine market.
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- Villegas, Villegas M., Economic Status of Philippine Regions (Part 1)”, 11 June 2022: https://www.bernardovillegas.org/index.php?go=/Articles/1216/
The Center for Research Communication (CRC) is the research and consultancy link to Philippine business opportunities, uniquely poised to help you with business feasibility evaluation, demand and supply analysis, partnership development, project impact evaluation, value chain analysis, customized solutions for design thinking, data analytics and insights generation, and development of business strategies, and consultancy services for investors in Philippine market.