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THE PHILIPPINES BESTSELLER Reprinted from THE SCIENTIFIC AMERICAN nce a trading center of Southeast Asia in the 13th century, Cebu has come a long way, and is now geared to join the mainstream of Asia-Pacific growth. Together with the adjacent cities of Mandaue and Lapu-lapu, Cebu is the fastest growing economy in the Philippines. Today, Cebu is not just promise or potential. Cebu has a track record. Strategic Location          Cebu is located in the heart of the Philippines and consequently of Southeast Asia. Its link to the world is through a modern containerized international seaport. As a domestic port, it is acknowledged as the biggest and busiest in the country. A future expansion for an international containerized port to serve as a trasshipment hub for American and European goods to and from Southeast Asia is on the drawing board. This will allow Cebu to offer an alternative transshipment hub within Southeast Asia that will be just as modern and efficient as any in the region, but at more competitive rates.          Cebu's other link to the world is the Mactan-Cebu International Airport (MCIA). Now in the final stages of a US$120 million expansion and upgrading project, the airport will feature a 3,300 meter runway capable of handling all types of aircraft, including fully-loaded boeing 747-400s. Presently, the airport has direct flights to almost all regional centers in the Asia-Pacific region, and in the very near future, will also have regular flights to the US mainland. Considering its central location and existing facilities, MCIA is also suitable as a passenger or cargo hub for international airlines or even as a major repair and maintenance facility for aircraft in Southeast Asia. This potential is buttressed by the low cost and availability of trainable manpower. People          Cebu accounts for less than three percent of the total land area of the Philippines and less than four percent of its population, yet generates 10 percent of Philippine exports. From 1988 to 1994, exports grew at an average annual rate of 20 percent, almost double that of the average of the entire country. In real terms, exports increased from a little over US$ 600 million in 1988 to US$ 1.3 billion in 1994.          Cebu is also the heart of education and culture for the Central and Souther Philippines. It has six universities, nine colleges and several technical and vocational schools. Over 20,000 college graduates join the labor force annually with various skills (computer literacy, etc.) and a good command of English. The multinational companies that have established here attest to the fact that labor in Cebu is not only inexpensive, but is also highly trainable and very productive.          In the past, poor peace and order conditions as well as the instability of government were the main constraints to Philippine development. Today under President Ramos' administration, the Philippines enjoys nationwide political stability, while loca government leaders exercise the political will to address problems within their constituencies. For a metropolis its size, Cebu has the lowest incidence of crime and the highest percentage of crime solution nationwide. A strong indication that peace and order have greatly improved is the growing number of foreign investments and firms that continue to come to Cebu.          Cebu is home to the Mactan Export Processing Zone (MEPZ), a 150-hectare facility that is arguably the most successful industrial estate in the Philippines. In 1986, MEPZ hosted only six companies with about 30,000 direct employees. Already, the enterprises at the Zone account for approximately US$ 850 million of total exports from Cebu. Among prestigious multinationals located in the MEPZ are Timex, NEC, Asahi-Pentax, United Technologies, National Semiconductors and many more.          For expatriates and prospective investors, Cebu offers metropolitan living with world-class housing and medical facilities, five-star hotels, country clubs, international cuisine and other amenities including an international school up to the secondary level. Tourism          Cebu is the tourism gateway for the Visayas and Mindanao. By itself, it accounts for a very significant portion of total foregn tourists who visit the Philippines. In Cebu, one is never more that 45 minutes away from pristine white sand beaches and sparkling blue waters that can be enjoyed 365 days a year, or from the numerous golf courses that dot the island.          Dynamic Cebu welcomes investments -- particularly in the sectors of light engineering, tourism and infrastructure development. Inquiries may be be made through the Cebu Investment Promotions Center (CIPC). This office provides a comprehensive range of investor services which ensure that investing in Cebu is not just expeditious but also a rewarding experience.

CEBU-AT-A-GLANCE BASIC FACTS Capital:    Cebu City Land Area:    5,088 square kilometer Population:    2,646,517 (1990) Population Density:    520 persons per square kilometer Labor Force:    1,176 M (Jan 1996) Employment Rate:    87.1% (Jan 1996) Cities:    Cebu, Lapu-Lapu, Mandaue, Danao, Toledo ECONOMIC RESOURCES Agricultural Products:    Corn, Rice, Legumes Industrial Products:    Mango, Vegetables, Coconut Mineral Products:    Copper concentrate, Coal, Dolomite, Cement, Limestone Manufactured Products:    Semiconductors, Furniture, Accessories Principal Exports:    Watches, Cameras, Carstereos, Carrageenan, Fashion accessories, Coconut oil, Frozen shrimps TRADE Balance of Trade:    US$210.1 million (1993) Top Export Markets:    United States, Japan, Western Europe, Hongkong, Taiwan INFRASTRUCTURE SUPPORT Communication Telephone Services:    14 Paging Stations:    3 Telegraph Stations:    222 Telex Services:    5 AM Radio Stations:    13 FM Radio Stations:    20 Local Dailies:    3 Post Offices:    74 FINANCE Commercial Banks:    105 Government Banks:    9 Savings Banks:    16 Rural Banks:    20 Licensed Foreign Dealers:    11 SOCIAL Elementary Schools:    Over 1,000 Secondary Schools:    203 Tertiary Schools:    6 universities, 39 colleges Hospitals:    37 (includes only government and private hospitals) TRANSPORT One international airport that handles 340 domestic flights weekly to 25 destinations and an average of 30 international direct flights mostly to regional destinations such as Hongkong, Taipei, Singapore, Five feeder airports. One international port with a total berthing length of 4 kilometers. Four power barges, 2 thermal plants, 2 diesel power plants, and 2 landbased gas turbines provide a dependable generating capacity of 512.7 megawatts daily. Local water district currently produces an average of 107,337 cubic meters daily equivalent to 30% of total demand, while 70% is supplied by individual, privately-owned wells.

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