The Bohol Investment Board (BIB), chaired by Gov. Aris Aumentado, has approved the registration and tax incentives for Mapalad Power Corporation’s (MPC) planned 95.2-megawatt diesel power plant in Ubay town.
The BIB, acting on its evaluation committee’s recommendation, endorsed MPC’s application during its June 10, 2025 meeting at the provincial Capitol.
The Alsons Power Group subsidiary will receive a five-year real property tax exemption on the provincial government’s 35% share, as authorized under Provincial Ordinance No. 97-001.
The MPC In-Island Back-Up Power Plant, to be located in Barangay Imelda, Ubay, will consist of 45 diesel generators, each with a capacity of 1-5 MW.
MPC said the plant will provide reliable backup electricity for Bohol, particularly its islands, during supply disruptions from existing sources.
The board’s approval paves the way for the provincial governor to negotiate a memorandum of agreement with MPC.
The provincial board is also expected to pass resolutions authorizing the governor to represent the province and allowing MPC to avail of benefits under Energy Regulations No. 1-94 (ER 1-94).
The Bohol Economic Development and Investment Promotions Office (BEDIPO) serves as the BIB secretariat.
Provincial Administrator Asteria Caberte chairs the BIB evaluation committee.
In a related development, Central Visayas (Region 7) maintained its position as the Philippines’ fastest-growing regional economy in 2024, officials announced Wednesday.
Speaking at the Regional Development Council (RDC) 7’s second-quarter full council meeting, RDC Chair and Bohol Gov. Aris Aumentado reported the region’s gross regional domestic product (GRDP) reached P1.276 trillion last year, reflecting a 7.3% growth rate.
Major economic indicators included a per capita GDP of P187,520 and an inflation rate of 3.2%, within the government’s 2.5%-4.5% target range.
Tourism was a major driver, with accommodation and food services surging 14.6%.
Transportation, health, and social services also posted strong growth.
The region approved P27.96 billion in investments across 22 projects, generating over 3,400 new jobs.
Local investors accounted for P17 billion of the total.
The employment rate stood at 97.1%, while the poverty rate significantly decreased from 22% in 2021 to 12.3% in 2023.
Infrastructure developments highlighted include the ongoing New Dumaguete Airport, Bohol-Panglao International Airport upgrade, Panglao-Tagbilaran Bridge Connector project, and the groundbreaking for the New Cebu International Container Port.
The RDC-7 also supported local government units (LGUs) in planning, noting 100 LGUs updated comprehensive development plans and 73 submitted local climate change action plans.
The Social Development Committee endorsed inclusive policies and skills development programs via TESDA.