Monday, October 31, 2011

OFWs perks up economy in Malasiqui

By Mortz C. Ortigoza
MALASIQUI- Overseas Filipino Workers serve as the sparkplug that drives the economy of this first class town.
According to data from the office of Mayor Armando Domantay the Poblacion or town center is recently experiencing high commercial growth spurred mainly by high consumer spending generated by increase in family incomes attributable to earning of OFWs.
The data continued that the estimate of OFW population from the town compared to the percentage of adult labor force is as much as 22 percent – one of the highest rates in the Philippines.
“The OFW phenomenon is so significant that almost all households have at least one member working outside of the country,”  stressed by a municipal official.
 Under the business friendly Domantay Administration, investors sprouted like mushrooms here.
These business establishments resulted in innumerable commercial establishments that give different services like rural and thrift banks, retail and wholesale establishments, manufacturing industries, hotels and restaurants, gasoline stations, construction supplies, social services, electric company, cable television facility, water system, water refilling and purifying stations, salons, drug stores, internet café, construction firms – as well as educational institutions –have risen in the area.

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