In an article from Philippine Information Agency, the National Economic Development Agency (NEDA) Region 10 said that there was an increase in the establishment of business firms and cooperatives throughout Northern Mindanao.
This was revealed by the agency based on the records from the Securities and Exchange Commission (SEC) and Cooperative Development Authority (CDA) during the Media Forum on the Second Quarterly Regional Economic Situationer last September 19 in Cagayan de Oro City.
According to Chief Economic Development Specialist Engr. Cecilio Clarete, Northern Mindanao has recorded a total of 135 new firms comprising of livestock corporations and partnerships and P104.4 million worth of paid-up capital investment in the second quarter of 2017 which is 22.38 percent as higher in the same period as 2016.
Misamis Oriental got the 77.78 percent share of the increase that is attributed to 90 stock corporations and 15 partnerships while Lanao del Norte soared as the highest for paid-up capital brought by new stock corporations with 139.47 percent increase followed by Bukidnon with 420 percent increase in paid-up capital of new partnership firm investments.
There are now 1,809 cooperatives throughout the region compared to last year’s 1,761 where Misamis Oriental shares 47.8 percent of the total regional numbers of coop members which form 65.7 percent of the P1.307 billion paid-up capital in the 2nd quarter of 2017