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Tuesday, August 01, 2006
Investments, biz in CV increase in 1st half
Investments in Central Visayas continued to grow during the first half of the year and the capital put in by registered business partnerships doubled from last year, the Department of Trade and Industry (DTI) 7 reported.
New business establishments registered with DTI 7 grew by 16 percent or from 3,831 in 2005 to 4,450 this year.
The total initial capital for the newly registered businesses for the first quarter was not reported but data for the same period last year amounted to P3.7 million.
Corporations
Data from the Cebu Extension Office of the Securities and Exchange Commission (SEC) showed that from January to June this year, investments poured in by corporations, both stock and non-stock, and partnerships also increased.
The amount of paid up capital of stock corporations grew to P276.5 million during the period, indicating a three percent increase from last year’s P268.5 million.
This, despite a decrease in the number of stock corporations that registered this year. Figures dropped to 409 from the 431 during the same period in 2005.
Investments by non-stock corporations also increased to P20.18 million from the previous year’s P19.23 million.
Double growth
The number of registered businesses also increased to 237, a 17 percent growth from last year’s 202.
However, the total capital of business partnerships for the first six months grew by 157.51 percent or from P15.19 million to P39.11 million.
Meanwhile, the Board of Investments-Cebu Extension Office reported an increase of figures from P97.5 million during the first quarter of last year to the P120.6 million during the same period this year.
According to the report, the total number of firms in the industrial zone increased from 179 to 185 for the same period.
These firms will enjoy incentives like income tax holidays, tax and customs duty exemptions on capital equipment and spare parts and net operating loss carryover.
However, the total number of employees decreased by five percent in the first quarter from 83,156 to 78,618, indicating a slowdown in employment. (MMM)
For Bisaya stories from Cebu. Click here. (August 1, 2006 issue)
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