A total of 41 construction companies in Central Luzon applied for a new Philippine Constructors Accreditation Board (PCAB) license during the first semester of 2021.
Apart from this, Construction Industry Authority of the Philippines window at the Department of Trade and Industry (DTI) Regional Office reported that 364 companies processed their renewal of PCAB licenses while 23 companies upgraded their licenses.
“Despite successive downturns in the local economy because of the COVID-19 pandemic in 2020, construction companies in Central Luzon continue to register with the government in the first semester of 2021 to be able to implement essential government and private construction projects in the region,” DTI Regional Director Leonila Baluyut said.
These figures are significantly promising compared to the whole year of 2020, where there were only 188 companies that renewed their license and 76 companies applied for new ones. Last year, 22 construction companies also upgraded their PCAB licenses.
The Philippine construction industry continues to be a bright spot in business despite the pandemic.
In total, it contributed 16.6 percent of the Gross Domestic Product of the country in the second quarter of 2021.
In the same period, Philippine GDP posted an 11.8% growth, according to the Philippine Statistics Authority.
“Construction industry is one of the main contributors to the growth together with manufacturing, wholesale and retail trade as well as repair of motor vehicles and motorcycles,” Baluyut added.
The share of construction to total employment of 45.075 million as of June 2021, was equivalent to 9.6%.
It continues to provide job opportunities, employing on the average a total of 4.337 million workers.