By PR | 11:50 PM September 01, 2024
Bohol’s gross domestic product (GDP) grew by 7.1%, according to the latest Philippine Statistics Authority (PSA) data.
This was a highlight of the State of the Province Address (Sopa) delivered by Gov. Erico Aristotle Aumentado on August 30 at the Bohol Cultural Center.
The province’s economic growth, with an economic production of P171 Billion in goods and services, is much higher than the 4.2% growth over the previous year, he reported.
Consequently, PSA data showed poverty incidence in Bohol dropped to its lowest ever at 14.8%. The previous lowest level of poverty incidence among families was in 2018 at 15.1% rising to 19.1% after the COVID pandemic.
The governor also underscored Bohol’s stature as a top investment destination based on a recent survey of the Hotel Industry Association conducted by Lee Chu Properties of Singapore.
He reported total estimated investments at P29 Billion from 66 proponents that passed through the Bohol Investments Board, a clearing house for investments.
On top of these are Puregold in Ubay and SM City in Tagbilaran along with two large Business Process Outsourcing Firms: Sagility and Genpact at the Bohol Business Park, the old Tagbilaran Airport.
Under power investments, Aumentado reported the ongoing construction of the Dagohoy Solar Power Plant, and Ubay Solar Power Plant.
Moreover, he highlighted the completion in the last quarter of this year of the Cebu-Bohol Interconnection Project of the National Grid Corporation of the Philippines and the operation of the 92.5 megawatt in-island power plant under One Bohol Power.
These, he said, will not only increase power availability in the province and reduce costs but also open more opportunities for power investments.
Another milestone is the completion of the Local Public Trasport Route Plan that will usher in the soft opening of Grab Philippines with a commitment of 100 vehicle units plying Panglao, Dauis, and Tagbilaran City.
A province-wide public transport system is also on the offing with a Bohol Public Transport Pre-Investment Study to be undertaken by the Department of Transportation.
“The future looks bright for the province of Bohol,” Aumentado emphasized. He cites major investments along with other ongoing and forthcoming projects that include the Central Philippines Specialty Center or Gallares Multi-Specialty Medical Complex in Cortes, the Panglao-Tagbilaran Connector Bridge Project, Talibon-Bien Unido Bridge Project, Sustainable Water Supply and Sanitation Project, and Water Desalination Projects.
These are in addition to many other initiatives anchored towards the strategic governance roadmap towards environmental sustainability, climate-smart agriculture, sustainable tourism, MSMEs and entrepreneurship, human capital and workforce development, governance, infrastructure and utilities, health and social services, and Information and Communication Technology.
“From the very beginning of this administration, we have pursued a clear direction and focused development agenda: our Strategic Governance Roadmap,” Aumentado said, noting that the roadmap is fully supportive of the Philippine Development Plan of President Ferdinand “Bongbong” Marcos, Jr.
Aumentado’s SOPA magnified his clear vision and direction for the province’s growth and progress that is guided by the Bohol Master Plan produced in 1980 and pursued by his late father Gov. Erico Aumentado with the assistance of the Japan International Cooperation Agency. (PIMO/LMS)
