ALL 17 regions' economies recovered last year, with Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon) posting the highest growth, the Philippine Statistics Authority (PSA) reported on Thursday.

This is why during the Calabarzon Business Conference held on Thursday, Philippine Chamber of Commerce and Industry Area Vice President for South Luzon Sallie Lacson urged investors to explore business opportunities in the industry, services and tourism sectors within the region as it is regarded as one of the country's centers of investments for rapid development.

"Aside from the thriving industrial activities and the lure of improved infrastructure connectivity in Southern Luzon, sustained regional economic growth should further prevail in this region," she said.

National Economic and Development Authority Regional Director for Calabarzon Luis Banua reiterates this as well as he said it is a strategic area that holds a key role for interregional passage.

"We have roads, including expressways and ports, that provide interregional and intermodal connectivity," he added.

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Data released by the PSA showed that among the regions, Calabarzon registered the highest growth of 7.6 percent, a turnaround from the 10.5-percent decline seen in 2020.

It was followed by the Bangsamoro Autonomous Region in Muslim Mindanao, which grew by 7.5 percent from -1.9 percent; and Cordillera Administrative Region, which also expanded by 7.5 percent from -10.2 percent.

The National Capital Region's (NCR) economy, meanwhile, grew by 4.4 percent, a reversal from the 10-percent contraction recorded in 2020.

In terms of regional performance for services in 2021, the NCR registered the biggest share at 42.4 percent, followed by Calabarzon and Central Luzon at 10.7 percent and 8.3 percent, respectively.

For industry, Calabarzon had the largest share at 25.1 percent; followed by NCR, 19.6 percent; and Central Luzon, 15.4 percent.