Cebu Manufacturing

Submitted by admin on Tue, 2006-11-14 23:13.

Cebu enjoys considerable success in producing goods for both national and export markets. The largest markets are Japan and the USA. Cebu's track record is impressive, with an export list topped by watches, semiconductors, cameras and electrical equipment. Cebu's exports exceeded US$4.7 Billion in 2005, representing close to 10% of total Philippines' exports in that year. The exports are increasing in growth rate over the past five years averaging 20%. This is almost double the Philippines' average over the same period. [picture here] Traditional manufacturing in the furniture and handicraft sectors has been overtaken by a raft of advanced high technology industries. Most of these are export oriented and foreign owned. Special economic zones have been established to encourage foreign investments and exports. They provide incentives such as income tax holidays and duty-free importation of equipment, and put all the physical and administrative infrastructures necessary for business on site. One of the first such zones was the Mactan Economic Zone. This is regarded as one of the most successful zones in the Philippines and is now fully occupied by 110 companies. They include Asahi Pentax, TMX Phils., National Semiconductor, Celestica and United Technologies. The Mactan model is being replicated in other areas, with over 700 ha. of sites undergoing construction and an additional 1200 ha. on the drawing board.