DAGUPAN CITY, Jan. 6 (PNA) — Investments in Pangasinan last year increased by 26 percent over the 2013 figure, the Department of Trade and Industry (DTI) provincial office said.
DTI Provincial Director Peter Mangabat said his office recorded PhP1.9 billion total investment in 2014, which was higher than the investments registered in 2013 in the amount of PhP1.5 billion.
He said that notably,investments in personal services industry such as spas, beauty centers, accounting firms, among others, increased by 50 percent from PhP762 million in 2013 to PhP1.1 billion in 2014.
Manufacturing industry also recorded an increase of 37 percent, while retail services industry registered only 1.0 percent growth.
Mangabat said the number of new businesses registered last year stood at 8,155. As a result, 20,362 new jobs were generated.
According to Mangabat, the economic situation in the province followed an increasing trend over the years.
However, the export industry, particularly of “Bangus” (milkfish) and other processed foods, as well as gifts and house wares, suffered a 12 percent 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 strict compliance with the requirements of exporting,” said Mangabat.
He encouraged exporters to still consider the international market as exporting is an avenue to expand their businesses, unlike in the domestic market, which is limited. (PNA)