Investors can take advantage of the island’s rich aquatic resources as well as its geographic strength whose proximity lies close to various provinces for other raw materials. Processed seafood and fisheries can be exported to other countries, leveraging on Cebu’s conducive export-business environment with ease of doing business and existing efficient network of ports and cold storages. Aside from partaking in export business, producers of processed seafoods and fisheries can also take advantage of the local demand and engage in achieving food security and a resilient food supply chain.
In 2021, fisheries production in the whole of Central Visayas was valued at Php 12.1 billion with approximately 147,000 metric tons. This production value records a 0.2 percent increase from the 12.08 billion pesos in 2020.
Moving forward, the CIDCC intends to closely work with relevant agencies to promote investment opportunities in fisheries and seafood processing businesses.
Mr. Nelson Bascones established Central Seafoods, Inc.(CSI) in 1999. The company, based in Cordova, serves as a processor and exporter of frozen marine products and pasteurized canned crab meat. To diversify their products, CSI had established its own network of raw material buying stations, enabling the company to leverage on specialized local marine products. Annually, the combined production capacity of CSI’s network is 1,200 metric tons. Aside from proximity to other provinces, Cebu’s efficient port system also facilitated CSI’s success in delivering premium high quality frozen marine products.
Moreover, Mr. Bascones praised Cebu’s ease of doing business in terms of securing proper permits and licenses, which further aids efficient business operations for CSI to deliver its products to multiple countries while maintaining optimum freshness and quality. To date, CSI is mainly exporting to United States, and is also embarking on serving new markets in Taiwan, South Korea, and Hong Kong due to diversified products and increasing market demand.