CALABARZON hosts ₱390 B worth of investments

Published January 18, 2020, 12:00 AM

by manilabulletin_admin

The CALABARZON Region attracted ₱390 billion or more than a third of the committed investments in 2019 valued at ₱1.14 trillion, making the region strategically significant in the country’s economic growth and national development, the Board of Investments (BOI) has noted.

BOI Managing Head Ceferino S. Rodolfo noted that Batangas, alone, is scheduled to host two colossal power projects worth a total of ₱95.7 billion, and a natural gas plant costing ₱35.2 billion.

Meantime, Quezon province will be home to a 1200 MW power plant with a project cost of ₱130.3 billion and a ₱47.4-billion wind power project. The region comprises the provinces of Cavite, Laguna, Batangas, Rizal, and Quezon.

The CALABARZON Region is the second largest contributor to the domestic economy, accounting for 17 percent of the country’s economic output in 2018.

The industrial sector dominates the region’s production, accounting for 62 percent of the gross regional domestic product (GRDP). In 2019, there were 6.2 million employed persons in CALABARZON, the biggest among all regions.