Economy

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Updated: February 21, 2023

Local Economic Development and Investor Resources

Local economic development and investment promotion for the Municipality of Rosario, Batangas, if we may suggest, should be a process of creating and maintaining an attractive business environment for entrepreneurs, investors and businesses to establish, grow and thrive in the area.

This can include measures such as improving the infrastructure, offering tax incentives and subsidies, providing business support services, encouraging entrepreneurship, and promoting the area as a great place to do business. The goal of local economic development and investment promotion is to create job opportunities and increase the standard of living for the residents of Rosario, Batangas.

Hence, the Rosario Batangas TOWN AccessPoint aims to:

1. Help disseminate information on the preparation, coordination and execution of local economic development and investment promotions policies, projects and activities of the Municipal Government of Rosario, Batangas.

2. Reinforce establishment of a systematic, coordinated and sustained promotion and marketing of the Municipality of Rosario, Batangas as an investment location.

3. Provide basic information about business potential to prospective investors to attract more investments to flow in the community.

4. Collect information and organize an economic database containing relevant facts and figures.

5. Provide assistance to the local government in the promotion of economic activities.

6. Participate in investment promotion campaigns.

7. Support information dissemination on Local Government Policies on Investment, Investment Wage Laws, required Permits, and other relevant materials.

ECONOMIC SECTOR STUDY

The study of the Economic Sector within Comprehensive Land Use Planning (CLUP) aims to assess the current state and development trends of the local economy with the ultimate goal of promoting sustainable economic activities. The key areas and factors of consideration include employment and workforce development, production volume and value, land use, investment in policies, infrastructure, and marketing facilities. Its sub-sectors include Agriculture, Commerce and Trade, Industry, and Tourism.

Meanwhile, in the context of Comprehensive Development Planning (CDP, the focus is on describing the local economy's condition, with the aim of facilitating market transactions through local government intervention. To accelerate local economic development, local planners must have a basic understanding of the local economy's structure and operations. 

On the other hand, Guide to Ecological Profiling of the DILG enumerated components of the local economy, and we updated the list based on the latest Provincial Products Account of the Philippine Statistics Authority (PSA). The Provincial Product Accounts (PPA) is a mechanism to compile the Gross Domestic Product (GDP) using production approach and other economic accounts at the subregional level. Hence, the structure of the local economy of the Municipality of Rosario, Batangas may be described by highlighting the sixteen (16) industries enumerated in the said PPA.

Finally, the Guide to Comprehensive Development Plan (CDP) Formulation for Local Government Unit published by the Department of the Interior and Local Government (DILG) also enumerated several points of entry or areas of intervention by the local government including:

• General Welfare Goals that pertain to local economic development
• Food self-sufficiency or security
• Determining the relative size of each sector
• Determining Structural shift in the local economy
• Determining the Town’s Specialization using Location Quotient
• Identifying Linked Activities
• Money Flow Theory

The Takeaway. The economic sector's primary concern is to enhance economic prosperity while promoting social justice to prevent the concentration of benefits in the hands of a privileged few. The stated mission of the Local Government of Rosario, Batangas is so much aligned to this idea: To improve the quality of life of the people of Rosario through sustainable development with equity for the present and future generations.

TABLE OF CONTENTS

CLUP SECTORS

• Agriculture
• Commerce and Trade
• Industry
• Tourism

CDP SECTORS

Primary Sector (Extractive)

• Agriculture, Forestry and Fishing

Secondary Sector (Manufacturing and Industry)

• Mining and Quarrying
• Manufacturing
• Electricity, Steam, Water, and Waste Management
• Construction

Tertiary Sector (Service)

• Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles
• Transportation and Storage
• Accommodation and Food Service Activities
• Information and Communication
• Financial and Insurance Activities
• Real Estate and Ownership of Dwellings
• Professional and Business Services
• Public Administration and Defense, Compulsory Social Activities
• Education
• Human Health and Social Work Activities
• Other Services

Related post:

Local Economic Development and Investment Promotion: The Key to Cityhood Aspiration of the Municipality of Rosario, Batangas

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Related Links:

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