Bacolod among country’s ‘most active growth corridors’
BACOLOD CITY – The Bangko Sentral ng Pilipinas (BSP) considers the capital city of Negros Occidental as among the most active growth corridors in the country because of its consistent growth, expanding infrastructure, and a high influx of investments.
BSP Gov. Nelson Espenilla Jr. said this as he explained the reason of opening of BSP branch building at Bacolod’s Reclamation Area on Wednesday.
The BSP governor said that to fur- ther calibrate and enrich the growth of Bacolod, it is crucial for the BSP to keep in step with the demand for central banking services in the region.
Espenilla’s message was read by Monetary Board member Felipe Medalla in the event that was also attended by Mayor Evelio Leonardia.
“Bacolod City has consistently seen vigorous economic expansion, expanding infrastructure development, and a high influx of investments. Indeed, it is among the most active growth corridors in the country,” Espenilla said.
Leonardia said: “If the Bangko Sentral is expanding its operation in Bacolod, then there must be something here. Thank you so much for assuring us and we are flattered by your confidence.”
"This is quite awesome for us here in Bacolod to have the Monetary Board transplanted in Bacolod City, finally. We find this very meaningful and significant that we are doing the groundbreaking and time capsule-laying ceremony for the Bangko Sentral branch at a time when Bacolod is moving forward and is celebrating its 80th year as a city,” Leonardia added.
The mayor informed the BSP officials and guests that business permits registration in Bacolod in 2018 had reached an all-time high of 23,187, which is 23.2 percent higher, or an increase of 4,370, in 2015 at the time of the previous administration.
Moreover, the mayor said the Securities and Exchange Commission (SEC) opened its Bacolod Extension Office last November. It is the only SEC office created through legislation, and Leonardia authored the bill when he was a congressman.
The SEC Bacolod Extension Office also impacted on our business environment, he added.
“Altogether, having the Bangko Sentral into the picture now, I believe it has completed the picture in Bacolod and that is how welcome you are. Thank you so much for being here, for us we have that sense of assurance that there must be something here in Bacolod,” he said.
In October 2018, the Monetary Board approved construction of a newgeneration BSP Bacolod branch building at a 5,000-square meter property in the “heart of the city” to facilitate the branch’s relocation from its present site at the corner of Lacson and Luzurriaga streets, which has been in operation for over 30 years.