ZAMBOANGA CITY (Lowell Vallecer / 02 Mar) Who says Zamboanga is a dangerous place? Think again! Private investments in the Zamboanga Peninsula area rose to P4.042 Billion in 2005.
The figure is 96% higher compared to 2004 which only posted some P2.059 Billion, according to data from the Department of Trade and Industry Regional Office IX.
"The big increase in investments was attributed to new business start ups and expansions in the key cities of Zamboanga, Pagadian, Dipolog and in Sibugay’s premier town, Ipil," it said.
The biggest increase was in Zamboanga Sibugay at 186% due mainly to the booming economic activities in the newly created province, followed by Zamboanga del Sur at 157%, Zamboanga City at 111% and Isabela City, 28%. In terms, of contribution to the investments pie, Zamboanga City’s investments accounted for 61% of the total, followed by Zamboanga del Sur, 14%; Zamboanga Sibugay, 12%; Zamboanga del Norte, 10%; and Isabela City, 8%.
Much of the investments went into the development and expansion of facilities in the services sector such as warehousing, beach resorts, real estate brokerage, commercial banks, security services, financing, shipping and hotels and restaurant.
The increase in investments was directly related to the upsurge in new business startups reckoned from the original business name registrations (BNR) with the DTI which recorded an increase of 47% in 2005 over that of 2004.
Much of the investments went into the development and expansion of facilities in the services sector such as warehousing, beach resorts, real estate brokerage, commercial banks, security services, financing, shipping and hotels and restaurant.
The increase in investments was directly related to the upsurge in new business startups reckoned from the original business name registrations (BNR) with the DTI which recorded an increase of 47% in 2005 over that of 2004.
Even business name registration renewals also recorded an increase of 32% over the same period.
DTI said the following factors contributed to the significant increase in business name registrations in 2005: improvement in the business climate in the region, massive campaign for BN registration conducted by the office, the implementation of web-based business name registration which significantly cut the waiting time for the BNR, and the weekly entrepreneurial briefings conducted by the office for BN registrants.
DTI said the following factors contributed to the significant increase in business name registrations in 2005: improvement in the business climate in the region, massive campaign for BN registration conducted by the office, the implementation of web-based business name registration which significantly cut the waiting time for the BNR, and the weekly entrepreneurial briefings conducted by the office for BN registrants.
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