In photo: DTI Secretary Fred Pascual with Undersecretary Ed Sunico, Assistant Secretary Dominic Tolentino Jr., Assistant Secretary Grace Baluyan, Batangas Governor Hermilando Mandanas together, and other DTI officials during the Bagong Pilipinas Town Hall Meeting in Batangas City

Batangas City, Philippines—Luzon, the Philippines’ largest island group, is poised to become a leading investment destination, driven by its diverse economy, thriving micro, small, and medium enterprise (MSME), and commitment to sustainable development. This was according to Department of Trade and Industry (DTI) Secretary Fred Pascual during the Bagong Pilipinas Luzon Town Hall Meeting held on July 17.

“Luzon’s economic gains should respond to evolving sectoral needs, employment demands, and shifting market standards. Hence, promoting Luzon’s diverse regions is key to attracting further investments that will benefit both Luzon and the entire nation,” said Secretary Pascual.

The town hall highlighted Luzon’s dynamic MSME sector, a key driver of the island’s economic growth, with businesses thriving across diverse industries.

To further support this vital sector, the DTI collaborates with the private sector and international stakeholders to empower MSMEs through sustainable and resilient investments. This strategic approach aims to bolster enterprises, integrate their products and services into wider markets, and facilitate collaboration with larger industry players.

Moreover, this focus on economic empowerment is particularly relevant in Luzon, a dynamic hub for industry, employment, and major infrastructure projects. Renowned for its flourishing tourism destinations, prestigious universities, and state-of-the-art healthcare facilities, Luzon is primed for continued growth.

The Luzon leg of the DTI Bagong Pilipinas Town Hall Meeting served as a crucial platform for the DTI to engage with local communities and identify potential areas for investment.

“The meeting is significant in assessing the unique roles, priorities, and investment profiles of Luzon’s regions, as well as identifying critical areas for targeted promotion. It also emphasizes the interplay between industrial investments and agriculture-based products and services,” said Secretary Pascual.

In photo: DTI Secretary Fred Pascual awards business kits during the Bagong Pilipinas Town Hall Meeting in Batangas City

As part of the town hall meeting, the DTI distributed Pangkabuhayan sa Pagbangon at Ginhawa (PPG) program kits to MSMEs from Luzon valued at PHP 154,000. These kits provide crucial support for businesses recovering from the economic impacts of the pandemic and other disasters, promoting entrepreneurship and stimulating local economic growth.

Building on the success of its Visayas and Mindanao runs, the event facilitated meaningful dialogue among stakeholders, crucial for identifying policy needs that the DTI and the Office of the President can address to further drive economic development in the region.

The town hall meeting concluded with a renewed commitment to attract further investments to Luzon through a robust promotional campaign. The DTI introduced its new slogan, “Angat Negosyo, Asenso Trabaho, Alagang Konsyumer para sa Bagong Pilipinas,” which encapsulates the Department’s vision for economic growth and consumer welfare. ♦

Date of release: 17 July 2024

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