Koronadal investments rising to record high
Economic News • 00:06 AM Thu Oct 9, 2014
2,031
By:
Roel Osano, DXOM-FM Koronadal
Koronadal City Mayor Peter Miguel delivering his State of the City Address (Roel Osano)
KORONADAL CITY
- Since Marbel became Koronadal City and eventually the regional center of
governance in Region 12, investments in this southern part of Mindanao
continuously increased, especially in the last three years, Mayor Peter Miguel said.
Speaking
during his State of the City Address (SOCA), Mayor Miguel said the number of
registered businesses rose from 2,877 to 8,547 or 197 percent in the last three
years.
While the
number of employment increased from 934 to 41,159 or 4,307 percent, he added.
The local
chief executive also revealed that with the influx of business capitalization,
investments in Koronadal increased from P520 million to a whooping P3.1
billion.
He also
announced that the city’s gross sales had reached a record breaking P25.3
billion from P5.5 million.
Most
industries in Koronadal city are agro-based with support facilities and
services to agriculture.
Twenty are
classified as light industries and 19 as medium industries categorized to rice
mill, piggery, poultry, banana plantation, manufacturing and processing,” Miguel
said.
The city’s agriculture
industry has an estimated P184 million total investments, employing at least
405 permanent workers.
Construction
industry is also gaining momentum because of migration.
There is
proliferation of commercial buildings, residential units, technical and vocational
schools, subdivisions, hotels and apartels,” Miguel said.
He said to
face this challenge the city government is steadfast to position the city as
haven for investors.
To reduce
time and money and make it easy to investors, we implemented Business One-Stop
Shop (BOSS) during renewal of business registration with the involvement of partner
LGU offices, national government agencies and barangays,” Miguel said.