Construction sector seen recovering in Central Luzon
Some 41 construction companies based in Central Luzon registered for a license with the government in the first six months of the year in an encouraging sign for the industry badly hit by the pandemic.
According to a report of the Construction Industry Authority of the Philippines (CIAP) in Region 3, the construction companies in Central Luzon applied for a new Philippine Constructors Accreditation Board (PCAB) license from January to June.
A total of 364 construction companies also had their PCAB licenses renewed with the CIAP stationed at the DTI Regional Office III, while 23 companies upgraded their licenses.
The figures are “significantly promising compared to the whole year of 2020, where there were only 188 construction companies that renewed their license and 76 companies applied for new PCAB licenses. Last year, 22 construction companies also upgraded their PCAB licenses,” according to a statement.
The Philippine construction industry continues to be a bright spot in business despite the pandemic, officials said.
The industry contributed 16.6 percent of the Gross Domestic Product of the country in the second quarter of 2021.
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