CITY OF TABUK, Kalinga, Aug. 20 (PIA) — Philippine Statistics Authority (PSA) survey results show the number of establishment in the province increased by 814 from 1,527 in 2016 to 2,341 in this year.
Randolf Laderas of PSA said the increase can be attributed to government intervention projects ranging from infrastructure build-up to financial assistance aside from private investment and business expansions.
“An environment with adequate support facilities invites an influx of business establishments and peaceful consumers drive in economic opportunities,” Laderas said.
Another reason for this positive development is the province graduating from the “Club of 20″ or the poorest provinces. This is indicative of an attained inclusive growth that changed the mind-set of people from that of a “good for a day produce” to commercial production for profit.
Government subsidies also raised the purchasing capacity of consumers thereby creating demand for commercial goods.
Tabuk City registered the highest increase. Latest among companies entering the list are food chains.
Establishments as defined by PSA is an economic unit, which engage, under a single legal entity; in one or predominantly one kind of economic activity at a single fixed physical location. Thus stores, shops, factories, mning companies, electric plants, transport companies, radio stations, hotels, restaurants, banks, insurance companies, real estate development companies and the like are considered establishment.
“This development could contribute to local revenue generation and employment,” Laderas said adding the updated list of establishments is directly absorbed in the central data-base system for public access. (JDP/PAB-PIA CAR, Kalinga)
Source: PIA Feed