NOTE: This story was first published in The Bohol Chronicle’s Sunday print edition.
Diverse industries via economic zones can best direct Bohol in building back better in the post-COVID-19 era, Rep. Edgar Chatto has asserted in Congress in support of the province’s plan.
He agreed that “we cannot just rely on tourism and we even need to strengthen agriculture.”
In diversifying industries, “we have to bring in investments through economic zones,” Chatto said in the virtual meeting of the Committee on Economic Affairs of the House of Representatives early last week.
The House panel teleconference was led by committee chair Rep. Sharon Garin and joined by top Department of Trade and Industry (DTI) officials.
The Bohol First District congressman’s assertion was in support of the plan of the provincial administration of Gov. Arthur Yap.
According to Chatto, policies and programs should be set up to hold investors from moving out of the country.
Provinces like Bohol which can host economic zone investments must be prepared, he said.
Bohol is close to Cebu with an international airport in Panglao and good seaports.
The solon believes that with hardworking labor force and low COVID-19 affectation, Bohol province can really be an attractive investment area.
Power and water supply projects are now being rushed.
Also last week, the National Grid Corporation of the Philippine (NGCP) updated Yap and Chatto in a videoconference on the timeframe of the Cebu-Bohol power interconnection.
The overall aim of having economic zones is to remain competitive, improve productivity, strengthen service linkages, enabling technologies, infrastructure and connectivity, and remove trade and investment barriers with continued engagement of partners, Chatto said.
In line with the provincial masterplan, Chatto, who is a former governor, cited some Bohol areas which are good economic zone locations like Tubigon and nearby sites.
Nationally, attracting investments also focuses on agri-fishery, forestry, services, public services, manufacturing, and new technologies.
The DTI committed to putting Bohol in its priority list of investment destinations.
The DTI and Philippine Economic Zone Authority (PEZA) lead in investment promotions.