Investments in Pangasinan increased

By August 13, 2006Business, Inside News, News

INVESTMENTS in Pangasinan increased during the first semester of this year compared to the same period last year but the number of employment generated was less.

 Records of the Department of Trade and Industry showed that from January to June this year, the total generated investment  for the first six months of the year was P2.8 million  as  compared to  last year’s  P2.1 million for the same period.

 The hike in investment was noted despite the minimal increase in the number of firms registered in the province for the first semester of the year at 3,636 from last year’s 3,594.

 Marjury Loresco, a DTI officer, said the trading sector accounted for the highest number of investments among all sectors of the economy as there were 1,933 firms that were registered.

 This was followed by personal services at 1,419; manufacturing, 182; and industrial, 102.

 But the number of employment generated was only 9,377 compared to 11,123 last year to this year for the same period or a 15% decrease.

 Loresco attributed this to rise in number of entrepreneurs, who are both owners and employees themselves   who found no need to employ workers.

 She, however, expressed hope that the next semester will generate more employment.

 She said the DTI is continuing to promote the province as a tourism hub and is also showcasing its native products in order to entice more investors. – AQL

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