Economy
Calbayog serves as the commercial, industrial and fishing center of the province, it is currently the tiger among the urban centers of Samar Island. Its income numbered to approximately 72 Million in 2011 making it the city with the most income in Samar Island. Calbayog City is the principal outport (abaca and copra are shipped here) for the province's northern plains. It also serves as a main Coco Oil producer as international vessels regularly dock at a port owned by Samar Coco at Barangay Malajog, Calbayog City. There are nine banks operating in the city, they are: RCBC, PNB, Greenbank, UCPB, CitySavings Bank, Rural Bank of Calbayog City, Landbank, OK Bank and MetroBank.
Read more about this topic: Calbayog
Famous quotes containing the word economy:
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)