Economic activity in the region is growing as the number of establishments in Central Luzon has grown from 2016 to 2018, based on the latest data from the Philippine Statistics Authority (PSA). Records from the latest PSA survey show that there are 116,458 establishments in the region as of 2018, compared to the 103,546 establishments recorded by the PSA in 2016, or a 12% increase in figures for the two-year period.
The Department of Trade and Industry Regional Office III is optimistic that these figures will continue to rise, showing that the local economy is vibrant in terms of trade and industry. Regional Director Judith P. Angeles of DTI Region 3 notedthat Central Luzon ranks third in the whole country among the 17 regions in terms of the number of micro small and medium enterprises (MSMEs). She also noted that from the totalnumber of establishments, 104,875 or 90.05% are categorized as microenterprises, 10,754 or 9.23% are considered small, while 444 establishments or 0.38% are categorized as medium enterprises.
In terms of industry category, majority (55,760) or 47.88% of the establishments recorded by the PSA in the region are in the Wholesale and Retail Trade; Repair of Motor Vehicle industries. Another 14,495 establishments or 12.45%
are in the manufacturing industry, while those categorized in the Accommodation and Food Service Industry totaled 14,102 establishments or 12.11%. Those categorized under Financial and Insurance services establishments totaled 5,237 or 4.5% of the total number of establishments in Central Luzon.
Director Angeles further averred that the DTI Region 3 offices in the seven provinces of the region, as well as its 103 Negosyo Centers, are ready to assist the new and existing MSMEs in the region to grow and expand, for them to contribute to job creation and inclusive growth as the agency has envisioned in the MSME Medium Term Development Plan for 2017-2022. She added that the Negosyo Centers are mandated by law to provide services to MSMEs such as Business Advisory, Business Name Registration assistance, Product Development, Market Matching and Capability Building services.
