Investments in Central Visayas continue to grow during the first half of 2006 as 720 new establishments open in various locations in the region, according to the Department of Trade and Industry in the region (DTI-7).
DTI-7 data revealed that the number of registered business establishments from January to June 2006, increased by 10.3% from 6942 in 2005 to 7662 this year with a paid-up capital of he corporations amounting to P2.21-Billion, an 11% increase from last year’s P2.1-Billion.
Records from the Securities and Exchange Commission further showed that the total capital of business partnerships grew by 36% for the first six months in 2006 at P35.95-Million compared to P26.53-Million in 2005. SEC registered corporations also increased to 462 from 434for the same period last year.
DTI-7 data showed that investments in the economic zones in the region under the PEZA grew 40.43% in the last six months to 3.13-Billion from 2.26-Billion in 2005.
With the increase in investments comes also the increase in the number of employees and jobs generated by the new firms. There were 185 new locators at the PEZA that brought the total number of employees to 85,185 as against the 82,883 in 2005.
Cebu has become the favorite business sites of multi-national corporations. The Cebu Light Industrial Park of Lapu-lapu City has employed 392 workers, a 31.54% increase from the 298 in the same period last year.
At the Asiatown IT Park in Cebu City, the total number of employees more than doubled in the period to 2,384 from 1,424 in 2005. Asiatown IT Park hosts several call centers such as E-Telecare, People Support and Qualfone; several software development companies—NEC, Telecom Software Philippines, Epson, Tsuneishi Technical Services, NCR-Cebu Development Center and Versagrafix are also located at Asiatown IT.
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