66K businesses registered in Central Luzon in 2020 despite Covid-19
The Department of Trade and Industry (DTI) reported that business confidence remained high among investors in Central Luzon in 2020 despite the Covid-19 pandemic.
According to a Philippine Information Agency report, the DTI Region 3 Industry Development Division reported a total of 66,734 business name (BN) registrations last year.
“Despite the restrictions brought about by the pandemic and the community quarantine in the region, we have only seen around 11 percent decrease in business name registrations in 2020 compared to the previous year,” DTI Regional Director Judith Angeles said.
“Given these data, we can say that Central Luzon continued on a good trend despite the effects of the Covid-19 pandemic,” she said in the PIA report.
Angeles said that during the peak months of the community quarantine or during April and May 2020, there were only 1,796 BN registered as compared to the 9,567 BN registrations in the same period in 2019.
“However, after May 2020, we again saw an upward trend in the number businesses. This is because business registrations rebounded as businesses continued to operate and as the community restrictions gradually eases,” the director added.
Among the provinces in the region, Bulacan registered the most number of business names with 16,127. This was followed by Pampanga with 14,549 BN registrations; Nueva Ecija—10,830; Tarlac—8,173; Zambales—8,081; Bataan—6,787; and Aurora—2,187.
These business registrations, according to DTI, are expected to add a total of P13.29 billion in local investments and translates to more than 116,000 jobs for Central Luzon residents.
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