THE plan to revive the provincial government-owned Misamis Oriental Telephone System Incorporated (Misortel) has yet to prosper as the proposal for a joint venture agreement between the provincial government and a foreign investor needs the approval of the capitol's legislative body, Misortel manager Rene Guingguing said Wednesday, February 13.
Guingguing said the administration has to endorse the proposed joint venture agreement to the provincial board and get its approval so further negotiations can move forward.
"Naa pa gihapon ta sa administration wala ko kabalo kung nakaabot na ba sa Sangguniang Panlalawigan," Guingguing said.
Governor Yevgeny Emano earlier announced that a foreign investor is willing to invest to resuscitate Misortel so it can compete with the technology used by other leading telecommunication providers.
Guingguing said the offer of the American investor is promising as it would put money to revive Misortel with 60-40 sharing of the generated net income in favor of the provincial government.
However, Guingguing said both the interested investor and the provincial government are not closing their doors yet for the joint venture.
"Actually wala pa gi-close sa investor ug sa capitol ang pultahan kay gwapo baya ang ofer kung madayon. He is still willing gani nag-discuss mi last two weeks ago kay naa man siya sa Phividec kay naa siya gi-negotiate para sa iyang hub nga i-put up diha," Guingguing said.