No less than the authorities at the Bohol Investment Promotion Center (BIPC), an attached office of the Office of the Governor, bared this bright prospect at the weekly radio forum Kapihan sa PIA.
This, too, as the BIPC tracked the investment capitalization of micro, small and medium enterprises (MSME) in Bohol topping the P1.5 billion in 2017.
While the rise in capitalization has not surpassed the 2011 reported investments capitalization which zoomed from P800,000 to P1.7 billion, BIPC Bohol head Maria Fe Dominese said investments have spiked again in 2016 on to nearing a full recovery surge in 2017.
Speaking at the Kapihan on February 1, Dominese however believe that 2018 would be a huge spike with the completion of the Panglao Airport and the brood of businesses it carries.
The BIPC also pointed out that the Philippine Chamber of Commerce (PCC) granted citation in 2017, would be an edge in attracting more and more investments, according to Imma Mylie Alo during the hour-long radio forum aired live over DyTR.
The PCC has handed to Bohol, which was then among the 14 provincial finalists in the search for Most Business Friendly LGU in 2017, the Most Business Friendly LGU citation for Class 1 provinces, an acknowledgement of the ease of doing businesses here.
Dominese added that the office has pegged the annual investment capitalization target of P1 billion for 2017, which has been surpassed.
BIPC pointed to the devastating 2013 earthquake which was a low point in MSME growth with everyone scampering for a way to rebound and get Bohol back on its feet.
The BIPC, which has set up its Business One Stop Shop (BOSS) and its outreach program with partner agencies called Asenso Negosyo Caravans to the towns, also noted that from 2,545 new business registrants in 2014 or after the earthquake, they tracked 4,583 new business name registrants in 2017.
Along this, the BIPC, an office under the office of the governor, noted an increasing trend in the number of registered MSMEs as well as the employment these generated.
In the past five, years, while the office notes an increasing trend in the number of registered MSMEs, employment generation subsequently increased.
In 2017, for example, BIPC tracked some 5,372 registered MSMEs and nailed 11,962 new hires, the job generation now filling up the job slots that could also help circulate the capital infusing it into the economy. (rahc/PIA-7/Bohol)