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Masbate Investment Guide
Located in the central part of the Philippine Archipelago, Masbate is the gateway of Luzon to Cebu and Panay Islands. By plane, it takes one-hour and twenty minutes ride to Manila, the administrative, trading and industrial center of the Philippines and twelve hour by ship to Cebu, the fastest booming economy in the country.
Masbate is located within the fishing polygon of the country. Samar Sea, in the Northeast, Ticao Pass in the East, Burias Pass and Sibuyan Sea in the northwest Asia gulf in the West and Visayan Sea in the South. Likewise, the province is within the regular course of motor vessels regularly plying the Luzon-Visayas-Mindanao route.
Agriculture, Fishery and Mineral Resources
Covering about 200,000 hectares of agricultural land, Masbate is producing coconut and cattle. In 1992, copra production was estimated at 60,000 MT while the cattle population was 65,000 heads. Aquamarine production was 303,828.80 MT during the same period.
Large deposits of mineral, both metallic and non-metallic abound provincewide, These include gold, marble, rock phosphate, limestone and other minerals. Except for gold, the other minerals remain untapped.
Large and Trainable Labor Pool
Masbate has a populace of 653,852 (1995 Census) with an annual growth rate 1.83%. The Masbatenos are English-literate and educated hardworking and warm people. Yearly the province's private and public colleges in the field of arts and sciences, business, agriculture, education, computer courses and others produce more than 1,000 graduates. Graduates of trade and vocational schools also supplement the pool of craftsmen and technicians.
Infrastructure, Modernization of Telecommunication Facilities
The growing infrastructure and modernization of telecommunication facilities propel Masbate's developing economy. Local governments intensified efforts in expanding seaports and airport to promote commercial and trading transactions with the rests of the country. Land transportation facilities and services are made available round-the-clock to meet the needs of the people and industries. To date, there are about 40 air-con vans servicing the capital town and the rest of Mainland Masbate.
The two islands, Masbate and Ticao, are now serviced by their respective electric cooperatives. MASELCO provides 24-hour service to the electrical needs of Masbate Mainland while TISELCO twelve hours service during nighttime in Ticao Island.
National/International Distance Dialing are also available in communicating to the rests of the world. Five (5) courier services and two(2) cable television systems are also operating which made the people informed and aware on current news and issues.
Aside from the investment incentives offered by national government, the local government units particularly Municipality of Masbate also provides incentives and privileges to investors. These include full/partial exemptions from Mayor's Permit Fee, Building Permit Fee, Business Sales Tax and simplified business requirements.