Published February 22, 2021, 12:36 PM
The domestic construction industry is poised for a modest rebound this year as the government ramps up its major infrastructure projects and with sustained support for small and medium contractors who were the most affected by the global pandemic.
This is the outlook of the Philippine Constructors Association (PCA) which groups not just the highest-rated construction companies in the country but also small and medium enterprises (SMEs) and suppliers through its chapters and affiliates nationwide.
According to PCA President Wilfredo Decena, the construction sector will contribute strongly to the recovery of the domestic economy this year after slumping 26% last year, sending the national gross domestic product (GDP) to a steep 9.5% year-on-year drop.