The influx of business establishments, and the continuing progressive developments introduced by owners of existing business entities in Tagbilaran City and nearby municipalities, are viewed as products of good business climate brought about by better infrastructures such as water and power services.
This was the categorical statement issued by Atty. Jose Samonte who led the legal preparations for the consummation of the Joint Venture Agreement between the Province of Bohol and Salcon Industries in operating the former’s water and light utilities.
Samonte, who worked with the Gold Project of the USAID in 2000 revealed that the USAID took pride of the Provincial Government of Bohol’s Joint Venture Agreement (JVA) with Salcon Industries because it became a model in the country.
Samonte said because of the JVA, many local government units have sought their help for the same purpose in their respective localities.
The agreement was very advantageous to the Provincial government of Bohol because, aside from receiving a windful amount of more than P150 million, the payment of the PPUD outstanding debt of P21 million by Salcon to Land bank, the province remains a part owner with 30 per cent interest of the two utilities.
The agreement liberated the province from the annual subsidy of around P20 million for the operation of the two public utilities Samonte stressed.
Also, the Province has received dividends of more than P50 million and it keeps coming considering that the JVA is now a progressive going concern.
The dividends and the amount supposedly allotted to subsidize the two utilities are now being used for other basic services, such as the construction and repairs of roads , ,medicines and health care services, and agriculture farm implements, among others.
The JVA which became a model, became the subject of research by the Ateneo Graduate School of Economics. (F. Dagohoy III )
