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Albay

Location and boundaries

• Albay is bordered by Camarines Sur in the north; Sorsogon in the south; Pacific Ocean in the east; Lagunoy Gulf in the west.
• Its capital is Legaspi City.
• Total land area is 225,260 hectares.
• Albay has 3 cities, 15 municipalities, 720 barangays and 3 districts.

Infrastructure facilities

• 1 primary airport in Legaspi City
• 2 seaports
• 5 local exchange carriers
• 3 mobile phone companies
• 4 companies operating public calling offices
• Proposed Industrial Estates/Economic zones
  • Legazpi Special Economic Zone
  • Tiwi Economic Zone
  • Malilipot Economic Zone

Cost of doing business

• Power
  • Residential: US$1.72 minimum for 0-15 kwh, additional $0.1145 per excess kwh
  • Commercial: $2.31 minimum for 0-20 kwh, addtional $0.115 per excess kwh
• Water
  • Residential: $1.56 minimum
  • Commercial: $3.12 minimum
  
  
• Minimum wage rates
       Rates in Legazpi and Naga City
  • Non-agricultural: $3.64
  • Agriculture: $3.34

Potential investment areas

• Abaca-based industry
• Tourism

Incentives

• A registered enterprise qualified under the Provincial Investment Incentive Code of 2000 will be, within 6 years from start of its commercial operation, exempt as follows:
  • For those employing 50% labor force coming from residents of Albay, 100% for the 1st & 2nd years down to 10% for the 6th year.
  • For those employing 70% labor force coming from residents of Albay, 100% for the 1st to 3rd years down to 10% for the 6th year.
• A 100% Real Property Tax Holiday shall be enjoyed for 3 years from start of commercial operations.

Major tourist attractions

• Mount Mayon, whose name means beautiful, stands majestically at 7,946 feet from the broad base and about 10km in radius.
• Cagsawa Ruins which on the worst eruption of Mayon, on February 1, 1814, was submerged in the fast action of mudflow.
• The beaches found in Bacaycay are well known for enclaves of black sandy beaches with towering coconut palms and lush vegetation providing cool shades.
• Albay Park and Wildlife