BSP breaks ground for Bohol branch

Top Bangko Sentral ng Pilipinas (BSP) officials are set to break the ground this May for the P250-million full Bohol branch, an investment towards sustainable growth and stronger domestic source of resilience.

Gov. Edgar Chatto said the officials of the BSP, also known as the Central Bank (CB), will come along with the country’s financial management team for the event before the end of next month.

Chatto talked to them in Manila last week to finalize the groundbreaking for the project that will galvanize the national trust and confidence in Bohol’s economy and business climate.

To attend the historic event are BSP Gov. Nestor Espenilla, Deputy Gov. Diwa Gunigundo, Deputy Gov. for Legal Affairs Elmore Capule and Assistant Gov. for Regional Monetary Affairs Lou Sicat.

On the occasion, Chatto hopes to conduct an economic forum to discuss with the banking, business and investment sectors and LGUs the country’s economic trends.

The forum will also certify the role of Bohol and the region in realizing the national development agenda.

National Economic and Development Authority Sec. Ernesto Pernia and Reg’l. Dir. Efren Carreon have committed to support the activity.

The governor also expects the presence of Department of Trade and Industry Sec. Ramon Lopez and Department of Finance Sec. Carlos Dominguez.

Chatto said the CB in Bohol will enhance the province’s position as an investment destination.

This in effect creates more jobs, livelihood and entrepreneurial opportunities, reducing further the poverty index which dropped from 50.2% in 2002 to 21.7% now.

This is lower than the regional average of 23.6% and almost identical with the 21.6% national average.

In the recent congress of the Philippine Chamber of Commerce and Industry, Bohol was recognized and awarded by Pres. Rodrigo Duterte as the “Most Business-Friendly Province.”

Bohol bested 14 other finalists from the country’s 81 provinces.

The Bohol Bankers Association and Bohol Chamber of Commerce and Industry lauded the provincial government headed by Chatto for the economic milestone.

The officials of the two biggest, influential business bodies in Bohol are one in saying that the public-private partnership advocacy of Chatto has augured well for the province.

This is especially true to the realization of the provincial development framework which the Boholanos are starting to realize and enjoy.

The Central Bank will rise on a 5,600-square-meter lot along the Dauis-Panglao central highway—between the new Dauis municipal hall and Bohol Panglao airport, which is set to open in August or September.

Once its construction is completed next year, the bank will have a full branch manpower of 40 officers and staff.

Chatto thanked Department of Environment and Natural Resources Usec. Juan Miguel Cuna for facilitating the approval of the permit for the cutting of trees and clearing of the project site. (Ven rebo Arigo)

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