Renewable energy investors that will bring key projects to Bohol can expect an
incentive following the passage of the legal framework aimed at entice capital to
make the province an energy producer, not just an energy consumer.
It can be recalled that the Sangguniang Panlalawigan (SP) passed an ordinance
recently prioritizing renewable energy (RE). The ordinance laid out the path to
encourage more investors to come here in the province and set up shop.
This ordinance was crafted by lawyer Jamie Aumentado-Villamor of the second
district. She emphasized the salient features of her measure during the Dec. 15,
2023 episode of The Capitol Reports.
Aumentado-Villamor is the granddaughter of the late, former Gov. Erico
Aumentado and the niece of the current governor, Aris Aumentado.
Moreover, Ordinance No. 005 declares Bohol as an environment-friendly and
clean energy province. Bohol is going to prioritizes innovative RE projects.
The key incentive outlined in the ordinance is
exemption from real property tax for up to five operating years. However, the
business must be registered with the Bohol Investment Board.
The board member explained that every type of investment is welcome in Bohol,
but the ordinance focuses on RE projects.
Observers say the promotion of more RE projects here in the province is aligned
with Bohol’s states as a geopark, as tagged by the United Nations Education,
Scientific, and Cultural Organization (UNESCO).