BY: ANGELICA ARQUERO

As the economy in the Cordillera continues to improve, it has recorded a 6.9% increase in Gross Domestic Product (GDP) for 2024.

This is higher than the projected 5-6% growth rate outlined in the region’s Regional Development Plan.

As 2024 ends and 2025 begins, the Department of Trade and Industry (DTI) is optimistic that this growth will continue, bringing more opportunities to the region.

Because of this, the Department of Trade and Industry is even more determined to further strengthen businesses in the region.

This follows the country’s successful acquisition of 255 investment projects worth over 1.62 trillion pesos.

This is higher than the 1.5 trillion pesos worth of 233 investment projects secured by the country in 2023.

According to Secretary Cristina Roque, this will create more jobs, innovations, and economic growth.

Maintaining the country’s triple B plus credit rating from Standard and Poor’s Global Ratings has also greatly boosted investors’ confidence in investing in the country this year.

Sec. Cristina Roque, DTI, stated, “This high rating will really encourage a lot of confidence for international investors to come to our country, and so far there’s a lot of interest in our country, and we are looking forward to a lot of international investment and foreign investors to also come in.”

In addition, the Philippine Economic Zone Authority (PEZA) has collected 214.17 billion pesos in investments.

This is higher than the 200 billion pesos target set by the agency for 2024.

Currently, PEZA is focused on further developing ecozones to attract more investors to the country.