Facebook Twitter Youtube E-Mail


Existing Commercial Establishments

Number and Type of Commercial Establishments present. As of December 2009, Naga City has a total of 5,754 commercial establishments. This is 6.28 percent higher than 2005’s 4,599 active commercial establishments. Major types of business or trade comprise wholesale and retail trade, banking and finance, insurance, real state and services. Records from the Business License Division of the City Treasurer’s Office (CTO) show that there are 64 business establishments that are engaged in wholesale trading while 2,979 are engaged in retail trading.

The opening of SM City Naga in May 2009, a total of 1,104 new establishments  were added to the local economy during the year.

The Naga City Public Market was hit by fire in November 2008 and the most recent one last January 9,2010 that caused dislocation and inconvenience for occupants and the general public as well. The recent fire is estimated to cost the city government PhP17M, the city enterprise generated a total revenue of PhP 34M for 2009, 52% higher than the PhP22.4M million generated in 2008. Of the total, current market rentals contributed PhP10.7M, back rentals PhP6.8M, cash tickets PhP5.1M, and matanza PhP8.0M, with other income accounting for the balance. Its most recent setback notwithstanding, the city can look forward to s new and better facility that will be more competitive and responsive to modern needs of our citizens and one that will anchor the ongoing renewal/redevelopment of CBD 1 under Executive Order No. 2006-04.

.Banking and Finance. At present, there are 46 banking institutions classified according to the services it offered.  We have 23 commercial banks; 15 thrift banks; 5 rural banks and 3 specialized government banks.

Aside from banking services, electronic moneygram services are also available in Naga City. We have MLhullier, Cebuana Lhullier, Smart Padala, Globe G-Cash, Western Union and LBC Padala.

Insurance. More than 37 insurance, big and small alike, have sprung into profitable business this past decade. Insurance firms leading the market are PhilAm Life, Asian Diamond Plans, Insular Life, etc.


As of 2000, the total labor force (15 years old and over) of Naga  City was 82,177 or about 60% of the total  population.   Of the total labor force, about 94% or 46,528 were considered economically-active

The non-economically-active segment of the labor force (43% or 35,649 persons) consists of full-time students, housewives, retirees , and other similarly-situated people.

Informal employment was at estimated at 32.1%.  The unemployment rate was 5.8%.  The trading and consumer services sector accounted for the bulk of employment.


Because of its strategic location, Naga is a  center  of trade and commerce, relying on its neighboring towns and municipalities for raw materials.  Identified major products in the city are bamboo furniture, pili nuts and misua.

Many multinational and Philippine firms operate profitably in Naga.  Many of these have regional or South Luzon operations.  They are usually engaged in real estate and property development, transportation and communications, banking and financial services, food and beverage manufacturing and distribution, and consumer goods distribution.

Trade activities among neighboring towns. The immediate neighboring towns of Naga City which include Canaman, Magarao, Milaor, Calabanga, Camaligan, Minalabac, Gainza and Pili benefit much from various trading activities  with the city. These towns are also members of the Metro Naga Development Council (MNDC), a pioneering concept in integrated area development that seeks to enhance role identification, resource allocation and integrated development among its member-LGUs.

Among the major trading activities with these towns are vegetables, dried fish, fresh catch fish, handicraft, rice, “talangka” egg pasteand fruits.

With the upsurge of big, medium and small enterprises, Naga City has gained its popularity as the center of economic and business activities in the province of Camarines Sur and the whole of Bicolandia. Small and medium-scale enterprises dominate the trading, and community, social and personal services sectors.

Nowhere in Bicol Region can one find large businesses ranging from retailing to wholesaling, manufacturing and processing and other services such as entertainment, resorts, movie houses, restaurants and financing institutions like banks and insurance companies, but in Naga City.

The credit ratings on Naga City are supported by its consistently strong budgetary performance and solid liquidity position of its former administration which the current administration will sustain. Balances after capital expenditures averaged 15% of total revenues in 2005-2008, and free cash and liquid assets are estimated to have reached around 85.89% of operating expenditures in 2009, one of its strongest liquidity positions among its peer group.

Another credit strength is that the city government’s direct debt level has declined from a peak of 32% of operating revenues in 2005 to a much more sustainable level of 13% estimated for 2009. Its current net creditor position is also significantly stronger than many domestic and international peers in its rating category. Despite the weakened global economic conditions, we expect Naga to maintain its overall financial profile in the near term in view of the prudent financial practices that the former administration has demonstrated which the current administration will continue.

The liquidity position of Naga City is healthy, with free cash and liquid assets rapidly increasing since 2003. As of December 2009, the city holds around PhP 371 million in free cash. After taking into account the city government’s negative working capital, we approximate free cash and liquid assets to be sufficient to cover about 85.89% of 2009 operating expenditures, which is extremely sound compared with international peers.

Priority Investment Areas

Naga has 6 growth zones. Specific investment activities are encouraged for each of these areas. All enterprises, both new investors and existing ones, that will engage in these activities are entitled to incentives under the 1997 Naga City Investment Incentive Code.

Incentives are also offered to firms that will engage in other priority activities even if they locate outside the identified growth zones.

(1) CBD I

More popularly called by locals as “centro”, CBD-I is the traditional commercial hub. The Naga River, Hernandez Avenue and Arana Street bound this 30-hectare area.

(2) CBD II

CBD-II, inaugurated in 1996, is designed for medium-end commercial development. It is dubbed as Naga’s Transport Exchange.

(3) South Riverfront Growth Area

This sprawling area is found only a few blocks west of CBD-I. It is geared to accommodate medium- to high-end commercial development.

(4) Concepcion Growth Corridor

This 241-hectare site comprises the area along and immediately contiguous to the Maharlika Highway from Concepcion Pequeña to the Del Rosario boundary, leading towards the capital town of Pili, Camarines Sur. It is ideal for  medium- to high-end residential and commercial development.

(5) East Highland Tourism Zone

Located at the foot of Mt. Isarog, this area is ideal for tourism-related activities and development. It is only a 15 to 20-minute drive away from the city proper.

(6) Naga Agro-Industrial Zone

This area is envisioned as an agro-industrial hub, capitalizing on Bicol’s extensive agricultural resources, the market offered by Naga itself, and the city’s character as the regional center of trade and services– providing access to markets in Metro Naga, Camarines Sur, Bicol and South Luzon.

The launching of the “Great Naga Sale” project will help boost the economy and encourage shoppers from nearby provinces and across the region. Under this project, participating establishments will voluntarily place discounts ranging from 10 to 50 percent or more on their goods and services. It will help businesses promote their products and boost their sales, already an incentive for them to participate in the said project. It will be held annually from August 27 till September 1.


Inventory of Existing Industrial Establishments

As of 2009, Naga City has a total of 876 manufacturing industries. Most of these are small to cottage-scale food processing, metalworks, furniture manufacturing, jeepney body-building, auto shops, warehousing and storage.  They fall under one of the following 17 industries existing in the city:

  • Coconut oil milling
  • Machine shops
  • Construction materials
  • Printing
  • Food processing
  • Rice Milling
  • Furniture making
  • Ice-cream
  • Tire retreading/recapping
  • Upholstery
  • Jeep body building
  • Metalcraft and iron works
  • Garments products
  • Softdrinks bottling
  • Bakeshop and bakeries
  • Shoes/bags manufacturing

Also present in the city are specialized manufacturing activities such as bottling (Pepsi and Coca Cola), chicken dressing and cooking oil processing among others. These manufacturing companies are concentrated mainly along Concepcion Pequeña, Concepcion Grande, Del Rosario, Abella, Tabuco AND Mabolo areas.

Shown below is the annual tax contributed by industries in Naga City

In 2007 total amount collected was PhP7,246,430.90; 2008 – PhP6,287,445.37 and in 2009 PhP6,715,840.36.