By Recthie T. Paculba
CAMIGUIN (PIA) — Gov. Xavier Jesus Romualdo highlighted Camiguin’s strong and sustained economic performance during his State of the Province Address on January 6 at the New Capitol Building, citing official data that placed the island province among the country’s top economic performers.
“A strong future begins with a strong economy — one that creates jobs, supports families, and gives people confidence that their hard work will be rewarded,” Romualdo said, emphasizing that the province’s gains were achieved through “discipline, sound planning, and steady leadership.”
According to the Philippine Statistics Authority (PSA), Camiguin’s economy grew by 8.6% in 2024, making it the fastest-growing province in Northern Mindanao. The province ranked first among all provinces in Region 10, second overall when highly urbanized cities were included—just 0.2 percentage points behind Iligan City—and placed sixth nationwide among provinces, ninth overall including highly urbanized cities. Romualdo noted that the province’s growth was well above the national average of 5.7% and was shared across all major sectors.
The governor stressed that growth was broad-based, with agriculture, forestry, and fishing expanding by 6.2%, industry by 8.1%, and services by 9.4%. “This balance shows that growth is not concentrated in just one area, but shared across the different pillars of our economy,” he said, adding that the province’s performance builds on its double-digit economic expansion in 2023, proving that the gains are “neither a one-time rebound nor a fluke.”
Romualdo underscored the significance of these results for a small island province, saying, “For a small island province, these results send a clear message: size is not destiny.” He attributed the sustained momentum to consistent policy direction, disciplined use of public resources, and focused investments in sectors where Camiguin has comparative strengths, including tourism, agriculture, and infrastructure.
Beyond growth figures, the governor emphasized that economic performance must translate into tangible benefits for residents. “Economic growth matters only if it shows up in everyday life — when it improves ordinary lives,” he said, noting that the provincial government has prioritized inclusive growth to ensure opportunities reach every community and household across the island.
Data from the Department of Trade and Industry (DTI) further reflected growing business confidence in the province. Camiguin averaged 1,353 business name registrations per year over the past four years, while new registrations increased by 6.7% from 2024 to November 2025. Of the 5,633 registered business establishments in the province, 1,032 are newly established, signaling increased entrepreneurial activity.
Romualdo linked this confidence to reforms that have improved the ease of doing business, including the establishment of fully operational electronic business one-stop shops in all five municipalities. Camiguin has been recognized by the Anti-Red Tape Authority (ARTA) as the first—and still the only—province in the country where all component LGUs operate electronic business one-stop shops, with systems integrated into the eGovPH mobile app and the DICT’s eLGU platform.
Calling the reforms a personal point of pride, Romualdo said, “This reflects the seriousness with which our local governments have embraced competitiveness, digitalization, and business-friendliness.” He also cited efforts to strengthen public-private collaboration, including the reorganization of the Camiguin Chamber of Commerce and Industry and the holding of the third Provincial MSME (Micro, Small, and Medium Enterprises) Summit in November 2025.
Looking ahead, the governor announced plans for sustained, hands-on support for micro and small enterprises through a structured capacity-building and coaching program. He said the initiative aims to move beyond short-term assistance toward long-term enterprise development, ensuring that Camiguingnon businesses become “more professional, resilient, and competitive — better prepared for growth and success.” (RTP/PIA-10/Camiguin)
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