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Bacolod City, Philippines Friday, January 11, 2019
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Bacolod among most active
growth corridors, BSP says


“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,” Bangko Sentral ng Pilipinas governor, Nelson Espenilla Jr., said Wednesday.

Espenilla’s message was read by Monetary Board member Felipe Medalla at the groundbreaking and time capsule-laying ceremony for a BSP branch building at the Reclamation Area in Bacolod City, which was also attended by Mayor Evelio Leonardia, a press release said.

The BSP governor said that to further 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.

Leonardia said, “If the Bangko Sentral is expanding its operations 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 ground- breaking 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.

Bacolod also received awards as one of the most business-friendly cities in the country in 2017 and 2018, from the Philippine Chamber of Commerce and Industry.

In 2018, the National Competitiveness Council also recognized Bacolod as the 3rd most improved highly urbanized city in the country, ranking 8th as the most competitive city in the country, and 1st in the Visayas.

The mayor said the Securities and Exchange Commission (SEC) also opened its Bacolod Extension Office in November. It is the only SEC office created through legislation, and Leonardia authored the bill when he was 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 new-generation BSP Bacolod branch building at the 5,000-square meter Reclamation Area to facilitate the branch’s relocation from its present site at the corner of Lacson and Luzurriaga streets, which has been in operation for more than 30 years.*


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