In an impressive display of economic resilience, Nueva Vizcaya has secured its position as one of the top 5 fastest-growing economies in the industry sector in the Philippines for two consecutive years, according to the latest data released by the Philippine Statistics Authority (PSA) for 2023.
While the province previously held the number one spot in 2022 with a remarkable growth rate of 27.3%, it has now settled into the fourth position with a growth rate of 11.4%. This achievement is particularly noteworthy as Nueva Vizcaya stands out as the only province from the previous year’s top 10 list to maintain its ranking in the current year. Many of the provinces that were once in the top 10 have dropped off, showing how quickly economic conditions can change.
The data highlights the important contributions of various sectors within the industry, including mining, manufacturing, and construction, which have played a vital role in driving the province’s economic progress. This sustained growth is attributed to strategic investments and the province’s commitment to creating a supportive environment for business and development.
Governor Jose V. Gambito expressed pride in the province’s achievement, stating, “Our sustained growth in the industry sector is a testament to the hard work of our local government, businesses, and the people of Nueva Vizcaya. We will continue to focus on initiatives that promote economic development and improve the quality of life for our residents.”
As Nueva Vizcaya continues to grow , Gov. Gambito is hopeful about the future. He commits to build on this momentum to further improve the province’s industrial landscape. #RMI
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