Economy
Ormoc City's economic base is a good mix of agriculture, aquaculture, industry, tourism, and commercial services. Sugar cane, rice and pineapple are the bulk produce of the agricultural sector.
The city enjoys economic growth because it supplies the whole country of its power needs due to the abundant geothermal power resources in Tongonan and neighbouring Kananga town. Ormoc is also the gateway to the Leyte Industrial Development Estate in the nearby town of Isabel, home of the Philippine Phosphate Fertilizer Plant, the largest fertilizer factory in Asia, and the Philippine Associated Smelter and Refining Company, the country's biggest copper processing plant, among other industries.
The commercial service sector in the city is on the upswing. Banks, restaurants, cafes, night spots, and sports centers dot the city. There are sizable shopping centers in Ormoc City, among them are Gaisano Riverside Mall, Gaisano Capital Main, BOSS (Brodeth One-Stop Shop), Yuvallos Hypermart, Ormoc Centrum, The Point Mall, and A-Mall and a proposed Robinsons Mall Ormoc in Brgy.Cogon, a proposed SM Hypermarket in Brgy.San Pablo, Metro Gaisano that will replace the old Centrum Mall and Prince Mall in one of the buildings in the market. There are also many giftshops, videoshops, cellshops, pawnshops, bookstores, and whole-sale stores around the city.
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Famous quotes containing the word economy:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“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)