Cebu Shipbuilding Industry
It is listed as one of the priority sectors since observers and economists see this industry as having great potential to bring in huge monetary returns as well as jobs for locals.
So far, the Philippines has been recognized as the fourth largest shipbuilder in the world and with shipyards around the country with facilities that produce container ships, passenger ships, and ferries among other related products and activities.
This shipbuilding industry that hire skilled and semi-skilled workers are being seen to benefit other various sectors including food industries, tourism, transportation, steel industry and other sectors.
Both domestic and foreign shipbuilding industries have been operating in the country, particularly in Manila (Navotas City) and Cebu Province.
Balamban Municipality Shipbuilding
Under its officials, the municipality promotes itself as business-friendly to encourage more investors from various industries or business sectors. The town of Balamban is thought to have a great potential of becoming an investment hub in the province.
Most of all, the municipality has already been called as the “shipbuilding capital of Cebu”. In the past years, a Japanese company (Tsuneishi Heavy Industries, Inc.) is one of the medium size shipbuilding industries that is specializing in ship building, repairing, manufacturing of outfittings for ships and other sea vessels.
Cebu Shipbuilding Industries
The shipbuilding venue in Balamban, Cebu Province is called the West Cebu Industrial Park (or WCIP). This industrial park is especially designated and appropriate for the operations of medium and heavy industries for building vessels and its related business activities and transactions.
West Cebu Industrial Park is a more than 270-hectare estate that houses a Philippine Economic Zone Authority being managed by the Aboitiz Construction Group, Inc. of Cebu.
In addition, the Austal and Philippines Shipyard Operations is another company that enjoys the industrial park of Balamban. This company basically designs, constructs and updates naval platforms for global defense.
Certainly, there are other builders and more investors for shipbuilding that will come and invest on this provincial island. If you don’t know yet, let’s give you some ideas why those investors established their companies in Cebu.
Advantages for Cebu shipbuilding industry investment
Some of the advantages when establishing shipbuilding is Cebu are the incentives that both domestic and overseas companies can gain. These incentives include income-tax holidays and duty-free importation of capital equipment to any shipyard of the builders, incentives which are approved through the government’s Board of Investments (BOI).
Second, being a country with thousands of islands, you can have very spacious environment for shipyards, thus, providing more freedom to establish or set up shipbuilding facilities and materials compared to the congested facilities in other competing countries.
Third, the shipyards or industrial parks in Cebu are safe from disastrous natural occurrences such as typhoons or tsunami. The province of Cebu is being surrounded by other islands of other provinces protecting it from being directly hit by storm or the strong gush of tsunami waves.
Fourth, Cebu offers very affordable, if not cheap labor to foreign companies. It means that they can afford to hire sufficient number of workers with various skills and knowledge. In addition, foreign companies can easily train Filipinos since they already have the advantage of language skills—English.
Fifth, aside from human resources which the Philippines is able to provide, the basic materials needed in building a ship, such as iron, is available with cheaper price.
Last, among many advantages, is the political stability and ample supply of food and water, and other resources from other islands and provinces. The advantage of Cebu when compared with other provinces is that it is located in the central Philippines and most products from its neighboring provinces are being delivered and sold there.
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If you are deeply considering on Cebu shipbuilding industry investment, we cross our fingers, good luck and many happy returns.