The development of central visayas is mainly concentrated in the surrounding areas of Cebu. According to the statistics of the local investment bureau, since 1988, more than 90% of the investment in this area has been concentrated in Cebu Province. The economy of Cebu province is now mainly concentrated in Cebu city and its surrounding cities of Mandawi and Labra (collectively referred to as Cebu). Cebu is a commercially developed city in history. Since13rd century, the Saiya skirt area in central Vienna, with Cebu as the center, has been the commercial and trade center of Southeast Asia. Cebu remains the most important commercial and trade city in the Philippines except Manila. Ayala Group, the largest business group in the Philippines, SM Group, the supermarket king of Zhicheng Shi, one of the six Chinese classes, Visaya and Gaisano Group, the largest department store in Mindanao, have opened many supermarkets in the city. There are 65,438+050 banks in the city, major domestic banks have branches or representative offices in Cebu, and two foreign banks, HSBC and Citibank, have branches.

Cebu telephone network covers all cities, districts and towns in the province, and can reach 1 16 major cities in the country directly, with 24-hour service. The main industries in Cebu Province are agriculture, fishery, industry and tourism. Cebu has the largest coconut oil factory in Southeast Asia (accounting for one-third of the total output in the Philippines) and the second largest coconut shell activated carbon factory in the Philippines. Cebu is also a distribution center for dried coconuts, mangoes, tobacco and timber. Cebu has established a number of special economic zones aimed at attracting foreign investment and encouraging exports, and hundreds of export-oriented foreign-funded enterprises have settled down, including exporting electronic components, fashion, watches and high-end furniture. Due to historical reasons, such as the Spanish colonists landed in the Philippines from Cebu in the15th century, the United States once ruled this area, and the local colonial culture was preserved and became an important tourist resource. The sea around Cebu is clear and rich in biological species, making it one of the diving paradise that divers all over the world yearn for. Among foreign tourists, Koreans are the majority. Cebu's port cargo throughput accounts for about 80% of the country, far exceeding Manila. University of san carlos, which has a history of more than 400 years, and Cebu Normal University, which is famous in China, are also in this province. On June 5438+ 10, 2007, the 10 ASEAN-China, Japan and South Korea leaders' meeting was held in Cebu, which played a certain role in promoting the development of the region.

The furniture manufacturing industry has developed rapidly, and Cebu Province has become the furniture capital of the Philippines. Cebu Ministry of Industry and Trade is planning to develop this economic focus, clearly stipulating that small and medium-sized enterprises should pay attention to the export quality of their products. Due to deforestation, Cebu Province lacks abundant raw material resources to make furniture, but individual manufacturers will get raw materials from other islands and rely on imports to solve the problem. Denmark Island in Cebu Province has two main economic zones: Maidan Export Processing Zone. In addition to the furniture manufacturing industry, Cebu Province has also become the information technology capital of the southern Philippines in a short time. Many local or foreign companies have set up their headquarters in Cebu province. Cebu has become the home of many American customer service centers and business process outsourcing services. Cebu Chamber of Commerce and Industry is an organization composed of many Cebu enterprises. It is committed to investing in Cebu Province and the development of information and telecommunications technology and economy, and strives to turn Cebu Province into an ICT investment, software and electronic service center in Southeast Asia.