Total investments in Pangasinan up by 26%
THE Department of Trade and Industry (DTI) provincial office here confirmed that the province registered P1.9 billion in the total investments in 2014, representing 26 percent increase over 2013’s P1.5 billion.
Director Peter Mangabat of the DTI provincial office, said personal services industry such as spas, beauty centers, accounting firms experiences a 50% increase, from P762 million last 2013 to P1.1 billion on 2014 while the manufacturing industry recorded a 37% increase while retail services grew by only one percent.
Mangabat said the number of new businesses registered last year is at 8, 155 that resulted in 20, 362 new jobs last year.
However, the export industry, particularly the exporting of ‘Bangus’ (milkfish) and other processed foods, as well as gifts and house wares, suffered a 12% setback last year.
“The exporters decided to sell their goods in the local market as they perceived they would earn more here without going through the stringent requirements of exporting”, said Mangabat. (Hilda Martin Austria/PNA)
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