Bohol Gov. Edgar Chatto revealed recently more investments have been coming into the province and more will be coming in once the New Bohol Airport will be completed by middle of next year.
Chatto said at least three huge investments are coming into Bohol, including an investor putting up a 1,200-room resort in a prime real estate in Panglao Island.
A huge hotel chain, which identity has yet to be revealed, also purchased a huge property in Panglao, the governor said.
A source said one of the investments include a partnership involving business persons from El Salvador.
The same source revealed about P14 billion worth of investment will be poured into Bohol in the next 24 months.
The provincial government has been conscious about the investments coming into the province, he said.
The Bohol Investment and Promotion Center (BIPC) has been in the forefront of engaging with investors who are willing to accelerate the growth of the province.
Bohol has focused its economic drivers on three key industries: tourism, agriculture and information technology.
Tourism in Bohol is one of the most flourishing in the country. Aside from eco-tourism, the province is eying to develop more verticals such as health tourism to become part of the offerings.
The province is also looking at the development of the services sector, particularly the business process outsourcing industry to come in and relocate in Bohol.
Reports said there are locations in Tagbilaran City where an IT park hosting BPOs already identified. Government officials, however, have yet to reveal the sites.
Recently, Chatto said he is in talks with the leading telecommunications company to ensure better infrastructure in the province to entice BPO relocators to set up shop in the province.
Bohol has been pushing for more investments to create jobs and has done a good job at it.
From a high of 50 percent poverty rate back in early 2000s, the province has been able to bring the poverty rate down to 21 percent said Chatto.
The goal is to further drop the poverty rate down to 15 percent, by developing the key industries and generating more job opportunities.
The Bohol Employment and Placement Office (BEPO) has been busy all year round with various job fairs and placement opportunities for job seeking Boholanos for employment both domestic and international.
BUSINESS FRIENDLY PROVINCE
It is no secret the province has been trying to lure more investments here. The effort of bringing in more investments in the province led to the awarding of the most business friendly plum several weeks ago.
One of the key factors that gave the province the award is the efforts made on peace and order.
Chatto revealed one of the key questions during the Philippine Chamber of Commerce and Industry’s interview with candidates for the awards is the effort in keeping investor confidence in the field of peace and order.
The governor narrated the efforts made by the province in keeping peace and order and the political will to repel any forces aiming to disrupt the peace here.
Despite the challenges posed by some terrorist groups, the province has proved it can secure the investments here and create a business friendlier atmosphere.
Chatto said the BIPC has split its effort to cater to big investments at the same time extend help and support to small and medium enterprises (SME).
The governor recognized the role of SME in the growth of the province’s economy, at the same time taking care of the huge investments that will result in more jobs generated for Boholanos.