The Philippine island of Cebu offers Hong Kong companies a cheap, fully serviced manufacturing base as an alternative to the mainland, according to the Cebu Investment Promotions Centre (CIPC).
The island is seeking direct investors to establish manufacturing facilities that will produce exports.
CIPC managing director Joel Mari Yu said that, as an alternative to the mainland, the island offered a well-educated, productive workforce geared towards non-agricultural lines.
'You can get a college graduate for US$4 a day in Cebu, and for $1 a day in China you get a warm body,' he said.
Mr Yu said Cebu had already demonstrated capability with an excellent economic track record.
In 1997, exports were worth about $2 billion, accounting for 9 per cent of the Philippine total.
