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Business confidence in CL up despite pandemic

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In the first three quarters of 2020, business registration in Central Luzon continued as a result of confidence in the economy of the region. In the latest report of the Department of Trade and Industry Regional Office III (DTI-3), from January to September, 2020, the agency has processed a total of 61,720 business name registration despite quarantine restrictions brought by the Covid-19 pandemic. The figure is only slightly lower than the number of registrations for the same period in 2019, where DTI processed 62,697.

Regional Director Judith P. Angeles of DTI-3 attributed the business resilience of the region to the sound economic fundamentals of the seven provinces of the region and the confidence of businesses in government. For the first three quarters of 2020, DTI Bulacan processed the most number ofbusiness name registrations (BNRs) with 14,415 while DTI Pampanga followed with 13,386 BNRs and Nueva Ecija had 9,634 BNR transactions. DTI Tarlac processed 7,905 BNRs while DTI Zambales had 7,382 and Bataan had 6,771 transactions. DTI Aurora processed a total of 2,227 BNR transactions.

Director Angeles also noted that with these figures, more economic activity and job opportunities will be generated by the continuity of businesses in the region. She also said that in 2020, the DTI-3 is expecting a total of Php 11.018 Billion in investments because of the abovementioned business name registrations. In terms of employment to be generated from these businesses, the agency expects more than 97,000 new jobs to be opened.

Despite the pandemic, the DTI-3 regional and provincial offices continue to support micro small and medium enterprises (MSMEs) in the region to cope with the new normal through continuous assistance like online learning tools, livelihood starter packs, mentoring sessions, e-commerce and product development services.

Central Luzon has more than 100 Negosyo Centers in the different local government units where prospective and existing businesses can avail of the abovementioned services.

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