Loreto ranked 309th
Out of 508 1st and 2nd class municipalities in 2021, Loreto, Agusan del Sur is at 309th in the ranking of the Philippine Cities and Municipalities Competitive Index by the National Competitive Council through the Regional Competitiveness Committees (RCCs) with the assistance of the United States Agency for International Development.
Loreto's Economic Dynamism
In terms of economic dynamism, Loreto is at the 308th rank. We are at 429th when it comes to the safety compliance business, which can mean that many business establishments operating in the Municipality are not compliant with the standards set for the safety of the buying public compared to the business establishments in other 1st and 2nd class municipalities. We are also behind in financial deepening where we are ranked at 459th, productivity at 410th, local economy size ranked at 396th, the local economy structure at 351st, presence of business and professional organizations at 333rd, increase in employment at 286th, cost of doing business at 190th. The only economic ranking where we are in the top 20 is the cost of living where we got 17th place. In the local economic growth, we ranked 74th which we believe is a good implication if compared to the previous years like in 2016 where Loreto was at the bottom 112 in local economic growth. In 2017, it worsened reaching 335 out of 489 1st to 2nd class Municipalities. In 2018, the number fluctuated to 214. The rank in 2019 was disheartening. It was probably worsened by the onslaught of COVID-19.
Local economic growth ranking improved by 85.46%
By 2020, the local economy recovered and achieved the 65th rank out of 489 1st and 2nd class Municipalities. It improved by 85.45% based on the 2019 data. Although the ranking declined by 13.85% based on the 2020 rank, it was understandable because of the different factors including the heightened restrictions when COVID-19 variants threatened more lives and the increase of 1st and 2nd class municipalities to 508.
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| Economic Dynamism Ranking 2020 (by Indicators) |
The ranking in 2021 is something that is still laudable considering all the limiting factors. The current leaders of the Municipality are competitive, and we are too. This is just the beginning of the progress in Loreto.
We will keep on grinding and striving until our vision happens.
Kudos to everyone who has done their part and continued doing their best to help Loreto, Agusan del Sur excel. Thank you very much. We hope you will continue and never get tired of supporting us.