Benitez highlights potential

bond market for the Visayas
By Dominique Gabriel G. Bañaga

Negros Occidental consultant for investment and economic enterprise Alfredo Benitez said he will be presenting an economic perspective of the province before the Provincial Board. The former congressman said the presentation will “jumpstart” his work as a consultant to Governor Eugenio Jose Lacson.
“I will make a presentation before the board on what we intend to do about economic affairs, development priority, and what has happened [over] the past years,” he explained.
Benitez assured more investment will come into the province and said they will focus more on investment that will stay within the province as it would benefit Negrenses.
He also discussed the One Visayas Bond, which would be backed by local government units and utilized by investors or locally-run government establishments.
In terms of bonds, specifically municipal bonds, local government units sell bonds to investors, who then proceed with a specific project. Based on terms of the bond, the issuer, or the local government unit, will be required to repay the purchase price upon maturity. A risk associated with the practice arises when the issuer is unable to make the said repayment.
Benitez said some governors are already on board.
He noted, the plan is to raise P10 billion for the One Visayas Bond./DGB, WDJ