DTI identifies potential investment sites in Bohol

The upcoming Investment Forum in Bohol slated on July 22 is expected to boost investment interest from capitalists all over the country, as well as balikbayans, as the Department of Trade and Industry (DTI) together with Bohol provincial government have identified investment priorities in the area.

"This will be a more effective investment forum, as we are not only inviting [interested] investors, but we will also gather together the land owners of good investment sites within the province," said DTI-7 regional director Asteria Caberte.

The Panglao Island will be one of the showcased sites for investors, such as the availability of long-stretch white sand beaches that is potential for hotel or resort investments, and among other investment opportunities in the Island to take advantage of Bohol's popularity in tourism.

Also, Caberte said the province, has recognized its potential in different sectors for investments, aside from tourism, these are; Business Leisure Park with commercial spaces, entertainment-dining strip, vantage point with tourist services, craft village (as a tourist stop), Boholano Specialty Shop, Health and Wellness, and e-Services.

A number of interested big players have come to Bohol looking for opportunities particularly a spot in Panglao Island, where they can put up a facility. Unfortunately, the problem has always been the availability of contiguous land (20 hectares to 50 hectares).

Right now, Caberte said acquiring land in Panglao or the entire province in general is a legal nightmare because of ownership issues among heirs.

However, she said the Investment Forum will try to iron out these problems, through an establishment of a VIP Track, wherein local landowners who have assembled the required hectarage will be matched with outside investors.

Negotiations for joint venture or other arrangements will be left to the players to discuss. The VIP Track component of the forum will be a venue where matching between local and outside investors can be done.

"Actual matching will be done during the forum. Land owners will be introduced to interested investors for negotiation," Caberte said.

Last year, Bohol was able to attract 187,981 visitors or tourists. The province continued to post highest growth in terms of visitor arrival in Central Visayas, (excluding Cebu).

In a separate interview Department of Tourism (DOT-7) regional director Patria Aurora Roa said, Bohol has now become a stand-alone destination, unlike before that Bohol has always been a partner destination of Cebu.

According to Roa, because of increasing direct flights from Manila, and other areas in the Philippines, Bohol has becoming a well-known destination, without depending Cebu.

In the past, the Bohol-Cebu tandem was well promoted, making Bohol as one of the day destinations with the skip-trip package from tourists availing Cebu tour packages.

Caberte said Bohol now desperately needs more accommodation facilities, in order to accommodate growing number of visitors.

"Because of the province's crucial position now in the tourism picture the Provincial Tourism Council [PTC]is addressing issues critical to its sustained attractiveness and competitiveness as a tourism destination," she stressed.

DTI, which is also a member of PTC is looking at coming up with interventions to encourage accreditation and even the use of internationally accepted terminologies and terms of reference such as description of hotel rooms and basic inclusions.

Despite the popularity of Bohol, as an alternative vacation destination of Boracay, the province has yet to establish a five-star resort, or other world-class tourism facilities, Caberte said.

Currently, the tourism sector in Bohol is dominated by local investors with a smattering of foreigners who came as visitors and ended up living and investing in the province.