By Patricia Bermudez
CALAMBA CITY – Economic managers are pushing for climate-resilient policies to sustain investment momentum and generate more high-quality jobs as the regional economy falls short of some of its targets in 2024.
During the CALABARZON Regional Development Council meeting last September 4, Ray Michael Kevin Abuso, Supervising Economic Development Specialist of the Department of Economy, Planning, and Development (DepDev) Region IV-A highlighted the region’s bid to address the economic gaps highlighted during the Covid-19 pandemic.
“The regional development plan builds on the administration’s socioeconomic agenda which aims to revitalize job creation, accelerate poverty reduction, while addressing the challenges exposed by the Covid-19 pandemic.”
In its report, DepDev noted the increase in the unemployment rate from 5.3 percent in 2023 to 5.6 percent in 2024.
Citing data from the CALABARZON Regional Development Plan for 2023 to 2028, the region’s Gross Regional Domestic Product (GRDP) in 2024 was posted at 5.6 percent, missing its 6.5 percent target despite a slight increase from 5.2 percent in 2023.
“This can be attributed to the high number of workers in manufacturing and construction sub-sectors, which often involve seasonal or contractual employment.”
Abuso also noted the role of local government units (LGUs) in creating climate-resilient policies aligned with the Sustainable Development Goals (SDG) to sustain the region’s economy.
“An additional strategy will focus on improving coordination among LGUs to update the hazard assessment to provide capacity to manage disasters that will be achieved by providing capability development activities and promoting risk data into local governance.”
Data from the Office of Civil Defense show that the CALABARZON region sustained Php 954,692,412.00 worth of damages in agriculture and infrastructure following the onslaught of Habagat and typhoons Crising, Dante, and Emong.
As the country’s industrial belt that houses manufacturing hubs, the CALABARZON region is home to 12.274 Filipinos aged 15 years old and above. It posted a 94.7 percent employment rate where six (6) for every 10 working age residents were part of the labor force.
