PCA President Wilfredo Decena issued this warning amid a projected growth in the sector that should fuel the recovery of the domestic economy this year after slumping 26 percent last year, sending the national gross domestic product (GDP) to a steep 9.5 percent year-on-year drop.
Decena noted there are sectors that had been pushing for the unrestricted entry of foreign contractors that could further displace Filipino contractors, particularly SMEs which comprised 97 percent of all registered contractors in the country.
“This is happening while other countries have taken steps to protect and support their local industry amid the global pandemic,” Decena said.
This story is from the March 27, 2021 edition of Manila Bulletin.
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This story is from the March 27, 2021 edition of Manila Bulletin.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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