Investments in Pangasinan up 12%
INVESTMENTS in Pangasinan increased by 12 percent from P1. 7 billion in 2012 to P1.9 billion last year based on the business registration records of the Department of Trade and Industry (DTI).
Peter Mangabat, DTI provincial director, said the increase in the number of businesses opening shop in the province has also translated to an increase in employment from 2,479 to 9,099 during the period in review.
New business establishments in the cities and municipalities rose from 7, 000 to 7, 318 with the retail industry remaining on top of service oriented industries and manufacturing.
EXPORT DOWN
On the other hand, the province’s exports went down from $1.11 million in 2012 to $800,000 in 2013 as demand for bangus (milkfish), the main export product of Pangasinan, in the United States market declined.
The DTI, however, is optimistic that the export industry will recover this year with the venture into other markets such as the Middle East, Europe and countries like Russia and Thailand.
“As a whole the economy of the province is in good condition. The primary factor for the good economy is the increased growth rate in economy of the country and the good governance of the present administration of President Benigno Aquino III gaining the confidence of the investors,” Mangabat said.–Dada Austria
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