The provincial government will have to work doubly hard this year if it expects to recoup its gains as a result of a big decline in investments.

Total investments in Pangasinan in 2007 drastically dropped by as much as P1,861,550,658.01 or about 24.40 percent, according to the report of the provincial office of the Department of Trade and Industry (DTI).

Natalie Basto-Dalaten, officer-in-charge of the Business Department Division of the DTI provincial office  based in Dagupan City, showed that the total value of investments in 2007 was only P5,800,640,148.10 compared to the 2006’s record of  P7,662,190,806.11.

She noted that last year’s decline was the biggest in investments as recorded by the province over the past decade.

The number of new firms that registered last year was only 5,364 or an increase of .62 percentfrom the previous year’s 5,331 even as she noted that these were mostly small investors.

Those that renewed their business name registrations totaled 878 in 2007 or an eight percent increase from previous year’s 813.

The only silver lining in last year’s performances was the 12.65 percent increase in the total number of employment generated compared to 2006.

Trading registered highest investments in Pangasinan with P3,769,207,839.11 or 65% followed by personal services with P1,650,942,836.42 04 (29%) , industrial services  with P254,716,219.03 (4%) and manufacturing with P125,773,253.54 (2%).

Dalaten cited the general economic difficulty, negative news in the country and partly political factors contributed to the decline of investments in Pangasinan.

It may be noted that no less than Gov. Amado Espino Jr. had decried the lack of  big investments in Pangasinan  despite the fact that the province is rich in  natural resources with many  potential tourist spots in the coastal areas along  the Lingayen Gulf, big  population and wide land area and has two power plants, among  others.

He pledged a redirection of thrust by the provincial government with vigorous promotion of the province’s potentials to attract more investors to come in, adding that Pangasinan has been lagging behind in progress and investments compared to other provinces.—#

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