Trade and Industry Updates: Bohol

Bohol holds forum to boost economy


Local and foreign entrepreneurs recently converged at the Metro Centre Hotel in Tagbilaran City for the Bohol Investment Forum 2006.

The forum was aimed at discussing investment opportunities in Bohol, such as agriculture, tourism, information communication technology and IT enabled services sector.

It was organized by the Bohol Investment Promotion Center, in collaboration with the Department of Trade and Industry (DTI) and the Bohol Chamber of Commerce and Industry.
During the forum, Trade and Industry Secretary Peter Favila encouraged businessmen to look for investment areas outside of Metro Manila, particularly Bohol, to accelerate economic development in the country.

Favila disclosed that the Department of Trade and Industry (DTI) has delegated the Board of Investments registration processes to the DTI regional and provincial offices so that businessmen who wish to invest in Bohol or in any place in the country outside Manila no longer need to go to the head office to process their investment requirements, thereby reducing their effort and the cost of transportation.

Another DTI initiative that Favila said businessmen should look into is the “One Town, One Product (OTOP),” a program of President Gloria Macapagal-Arroyo, which aims to promote entrepreneurship and create jobs by promoting in a particular town a certain product or service that has a competitive advantage in local and global markets.

Bohol Governor Erico Aumentado, for his part, said he already formed a provincial OTOP committee last February to promote the program.

DTI Bohol provincial director Nanette Arbon also presented her business proposals during the forum, which could help boost the program.

These are the business-leisure park with commercial spaces, entertainment-dining strip, tourism vantage points with tourist services, craft village (as a tourist stop), Boholano specialty shop (to be established in the US), health and wellness, and e-services like the medical transcription.

Bohol has been successful in pursuing a tourism-based economic development. Tourism in the province has generated jobs for the Boholanos. (thanks to CDN)

posted by dtibohol @ 1:08 PM