Surigao del Sur

Trade and Industry

Trade and industry combined (trading, services, processing, manufacturing, agro-industry) contributed significantly to the economy of the Surigao Del Sur although in terms of land resources the province is primarily forestry, agriculture and fishery. Based on the Business Name Registration (BNR) recorded by the Department of Industry, Surigao Del Sur, for the last three years (1999-2001), has generated a total of P326.9M in investments or an average of P108.9 annually. Much of the investments came from the services and trading sectors that contributed an average of P28.6 M and P25.8M annually, respectively. Table 4.15 presents the details of the investment and employment performance of Surigao Del Sur in the last three years. Noticeable in the data is that investment and employment have not posted a positive growth with 1999 performance as benchmark.

Domestic and export/import trading activities are greatly enhanced and facilitated by the availability of support services such as the financing institutions, communication facilities, cargo shipping services, and land transportation. While most of these factors are provided by the private sector there is much that government can do so that these services are provided or improved for the benefit of the trade sector and the general public. There are two (2) government banks, 3 private commercial banks, 3 cooperative banks, 7 rural banks and 1 government lending agency with a total of 32 branches operating and servicing the financial requirements of the business sector and the population of Surigao Del Sur in general. While these financing institutions have offices in major growth centers of the province only the rural banks have branches in the outlying municipalities. List of banks operating in Surigao Del Sur is shown in Table 4.16 with their corresponding number of branches. Telecommunication facilities are just beginning to be reached with long distance telephone systems while majority remain unconnected to the rest of the world. At present there is no shipping company regularly serving the cargo shipping needs of the province. All efforts are being made to rehabilitate and restore the existing road network and farm-to-market roads to support the land transportation industry in the province.