Gov. Edduba underlines CAR’s 6.9% economic growth; outlines accomplishments of economic sector

Baguio City, Philippines – Governor James Edduba as the Chairman of the Cordillera Regional Development Council-Economic Development Committee underscored the region’s accomplishments in the economic development sector during the 37th Cordillera Month Culminating activity at the Baguio Convention and Cultural Center on July 31.

According to Edduba, citing data reports, the Cordillera Region posted a 6.9 percent economic growth rate in 2023.

Contributing mostly to the growth rate is the performance of the service sector, in which he said is ‘likely fueled by the thriving tourism industry’. The growth rate in services in 2023 was 8.9 percent.

As per record, tourist arrival in the region grew by 31.1 percent, from 1.28 million to 1.68 million in both domestic and international tourism. Tourist establishments likewise grew by 28 percent for primary establishments and 30 percent for secondary ones.

“This resurgence underscores the region’s growing appeal and highlights the varied tourism niches offered and hospitality’s pivotal role in providing accommodations, dining, and transportation services thus fueling economic activities across the region,” Edduba stated.

The industry sector, meanwhile, grew by 4.2 percent last year.

The growth is attributed to the increase in the number of wholesale and trade, along with financial and insurance activities, manifesting the region’s increasingly, favorable business climate.

This is seen in the maturity of micro, small, and medium enterprises (MSMEs) across the region and the successful holding of expos and trade fairs.

The Negosyo Center of DTI catered to 29,761 clients, 27,698 MSMEs, and provided 337 training sessions, among others last year.

Edduba also mentioned the approval and funding of 27 research, development, and innovation projects, representing a 46 percent increase from the previous year.

In terms of the agriculture industry, it experienced a contraction of 1.3 percent.

For the accomplishment in said sector, livestock, and poultry production observed a modest increase. High-value crop production such as coffee also grew by 2 percent.

Edduba added that three priority industry cluster roadmaps in the region were already approved – the Cordillera Bamboo Strategic Plan, the Cordillera Cacao Development Roadmap, and the Cordillera Coffee Strategic Plan.

To conclude his report, Gov. Edduba went on to say that ‘the success of plans, programs, projects, and activities for social and economic development relies on establishing an enabling environment that supports responsive and inclusive governance, sustainable infrastructure, climate action, environmental protection, and development that respects and integrates our cultural diversity.”