The Central Luzon Growth Corridor Foundation Inc. (CLGCFI) Expo hopes to encourage more local entrepreneurs and small and medium enterprise (SMEs) from Central Luzon to expand their markets beyond the Philippines.
Susan Yap, governor of Tarlac and president of the CLGCFI, told reporters the organization is bullish that the forthcoming expo will attract more investors to the region. The Central Luzon Expo will be held on October 18 and 19, at the Asean Convention Center in Clark Freeport Zone in Pampanga.
“By exposing the SMEs to this type of top-level event, we will give them the confidence to become globally competitive,” Yap said at a recent news briefing held in Makati City.
“The expo will also give them opportunities to look for potential funders for expansion,” Yap added.
As part of their capacity building, Yap said, some of the SMEs in Central Luzon have joined international fairs in China, Japan and Germany.
The Department of Trade and Industry (DTI) has developed capability-building programs for industries and the micro, small and medium enterprises. It has the local Negosyo Center that can assist a new entrepreneur with business registration and facilitate access to business services, among others.
Through mentorship, the Project Kapatid is made to support entrepreneur’s goal of achieving progress and success for his business. Moreover, the DTI has the Shared Service Facilities (SSF) program for assistance in acquiring tools and equipment specific to his or her trade. The DTI has also the Small and Medium Enterprises Roving Academy, a continuous learning program that aims to make businesses locally and internationally competitive.
Ninety SME exhibitors will join the expo. Yap said the first expo is envisioned to showcase Central Luzon, comprising seven provinces namely Aurora, Bataan, Bulacan, Nueva Ecija, Pampanga, Tarlac and Zambales as a key growth region in trade, tourism and investment.
Judith Angeles, of DTI Region 3, said they expect the event would generate investment leads to the participants.
Yap said Central Luzon is a growth region that plays a significant role in the national economy. Central Luzon’s gross domestic product posted a 7.1-percent growth in 2018, and remains as one of the fastest-growing economies in the country contributing 0.7 percent to the country’s 6.2- percent growth. Total gross regional domestic product of Central Luzon amounted to P904.02 billion.
Export performance in 2018 amounted to $8.195 billion, a decline of 0.69 percent compared with $8.25 billion in 2017 based on the data obtained from the One Stop Export Documentation Center and major economic zones in the region.
Electronics remained to the top export with a value of $4.82 billion, which accounted for 58.8 percent of the region’s total export. This was followed by machinery/transport equipment sector with 20.5 percent and other consumer manufacturing with 5.02 percent.
Pampanga remains to be top exporting province of Central Luzon with exports amounting to $4.9 billion representing 61.6 percent. Zambales came in second with exports of $2.1 billion followed by Bataan posting $730.9 million.
Major export markets of Central Luzon are the United States, China, Hong Kong, Japan, South Korea, Taiwan, Germany, Malaysia, Singapore and Thailand.
Event components include provincial pavilions, exhibit booths, and labor matching, provincial presentation on investment opportunities, business-to-business-to-business meetings and fellowship lunch.