Camiguin investments, employment growth up 184%
by Jorie C. Valcorza
Cagayan de Oro City (27 June 2005) -- THE
province of Camiguin took great strides in
promoting its investments when it posted a 184-percent increase in the services and trade sector in the first quarter of this year amounting to P91.963 million.
The Department of Trade and Industry first quarter report also showed the province surpassing its
employment target by 412%, from 86 to 354 jobs generated during the period.
At the same time, the agri-based sector, especially on processed food and beverages, generated about P5.18 million in sales during the quarter.
DTI provincial director Joselito Ento also said they are regularly monitoring the
prices of commodities, including the enforcement of the price tag law.
At the national level, Trade and Industry Secretary Juan B. Santos believes that the overall performance of DTI for the first quarter indicates that the country continues to be an attractive investment destination for
foreign investors.
Local investors have put in more investments in the first three months, generating more jobs in the process, Santos added.
Meanwhile, Presidential Spokesperson Ignacio Bunye in a statement said the government has finished implementing Phase 1 of the
economic plan and President Gloria Macapagal-Arroyo has started moving Phase 2 to broaden the benefits of economic stability.
Due to recent threats of political instability, Bunye further said, the country’s
economic gains are again under pressure.
“But the President is determined to stay the course of urgent change and reform, putting our fiscal house in order, sustaining
investment confidence, and fostering the political and economic climate for more jobs and better social services,†Bunye stressed. (PIA-10)
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