Bohol expects bolder investments in 2018

Bohol is expecting bolder investments to come pouring in this coming New Year with key businesses expressing interest investing in the field of information and communications technology (ICT).7

Gov. Edgar Chatto revealed the province is in talks with the carriers to improve the internet connection in the province. Having a robust connection is the primary condition to lure huge investments in the field of business process outsourcing (BPO) or knowledge process outsourcing (KPO).

The provincial government is now working harder to attract ICT companies with hundreds, if not thousands of seats, said Chatto.

Currently, Bohol has been able to attract micro-sized ICT companies with a few seats.

With the transfer of the airport facilities to the New Bohol Airport, the government is eyeing the old Tagbilaran Airport as a possible ICT park.

The governor said the province and city have plans for the airport once the New Bohol Airport becomes operational by August this year.  The old airport is a prime property and is attractive to locators, or BPO or KPO companies said the governor.

The provincial government has pushed ICT as one of the key economic drivers aside from tourism and agriculture.

The ICT industry has been known to drive more suitable employment, especially for the so-called millennials.

Several seats are still vacant, and the governor said there had been a lot of locators who have taken a look at Bohol as one of the possible sites for their operations.

GROUNDBREAKING OF CENTRAL BANK

Chatto revealed the plans for the groundbreaking of the new extension office of the Bangko Sentral ng Pilipinas (BSP) here in the province.

He said the groundbreaking might take place within the first quarter of this year.

Chatto said he was in touch with the top brass of the BSP headed by Gov. Amando Espenilla and Deputy Gov. Diwa Guinigundo.

The provincial land acquisition team, led by Provincial Legal Officer Mitchel John Boiser, helped the BSP in acquiring the lot located in the central part of Dauis town.

Chatto thanked the lot owner who has been very cooperative in the BSP’s acquisition of the land.

As of now, the exact location is still being kept under wraps.

The BSP asked the help of the province to clear 5,000 square meters lot near the airport.

The facility will be completed by the early part of 2019 at the most, said Chatto.

The investment is pegged about P250 million to P300 million, said the governor.

The BSP branch will have a staff of about 40 personnel.

The governor said having a BSP branch in Bohol has a massive impact on the local economy.

Business intelligence and information trigger investors especially of the dynamism of the local economy.

With a new branch, the money in circulation will no longer be shipped in other places such as Cebu or Dumaguete where the BSP maintains offices.

BULLISH IN BUSINESS

Attracting business has become one of the most significant focus for Bohol. No wonder the Philippine Chamber of Commerce and Industry awarded the province as “Most Business Friendly Province.”

The efforts of the provincial government have been solid with a bullish outlook for 2018.

The award given to the province, its first, is a testament to the focus of the province to lure more investors at the same time maintain the peace and order.

Peace and order have been a central issue in bringing in more investors to the province, said Chatto.

During a forum in peace and order council, Chatto bared the award went to Bohol after giving insights on how the province is keeping the peace and order in the province.

The same insights in attracting investors and keeping the peace, probably also pushed Bohol to win its third straight Seal of Good Local Governance (SGLG) from the Department of Interior and Local Government (DILG).

Among the key components of the SGLG is the efforts to create more business enterprise and the maintenance of peace and order.

As this developed, Chatto has ordered the strengthening of the Bohol Investment Promotions Center II (BIPC II) to help macro businesses that seek to invest in Bohol.

The BIPC II seeks to level the playing field at the same time provide support to big investors who wish to do some business in the province. (DSA)

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