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Wednesday, August 30, 2006
R7 investments grow as 720 new firms open
Investments in Central Visayas continue to grow in the first half of the year, the Department of Trade and Industry (DTI) 7 reported.
The DTI 7 said the growth is reflected in the 10.3 percent increase in the number of business establishments registered between January and June this year over that of 2005.
In the first half of this year, the DTI 7 reported 7,662 registered business establishments, up by 720 over last year’s 6,942.
Data from the Securities and Exchange Commission (SEC), which was gathered by DTI 7 Information Network Center, showed that investments poured in by corporations and partnerships also increased this year compared to 2005.
The amount of paid-up capital of corporations grew to P2.21 billion during the period, an 11-percent increase from last year’s P2.1 billion.
The total capital of business partnerships grew by 36 percent for the first six months of the year or P35.95 million, compared to P26.53 million for the same period in 2005.
The number of registered corporations and partnerships in the region also grew, according to DTI 7.
SEC registered corporations from January to June increased to 462, a 6.45-percent growth compared to 434 for the same period in 2005.
The number of partnerships that registered with SEC increased to 83 from 76 last year, a growth of 9.21 percent.
Investments in economic zones in the region under the Philippine Export Zone Administration grew 40.43 percent in the first half of the year to P3.13 billion from P2.26 billion in 2005.
However, there was a sharp decrease in investments registered with the Bureau of Investments to P129.51 million in the first half of the year from P509.6 million in the same period last year.
According to the DTI 7 data, the total number of firms and employees in economic zones increased.
The number of firms in the zones increased to 185, 1.13 percent more compared to 177 for the same period this year. The total number of employees grew to 85,185 against 82,883 in 2005.
The data showed that the number of workers at the Cebu Light Industrial Park in Lapu-Lapu City rose by 31.54 percent from January to June this year to 392 compared to 298 in the same period last year.
The total number of employees at the Asiatown IT Park in Cebu City more than doubled in the period to 2,384 from 1,424 in the same period in 2005.
Apart from several call centers like E-telecare, PeopleSupport and Qualfone, several software development companies such as, NEC Telecom Software Philippines, Epson, Tsuneishi Technical Services, NCR-Cebu Development Center and Versagrafix are also located at Asiatown IT. (MMM)
For Bisaya stories from Cebu. Click here. (August 30, 2006 issue)
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