Tourism Infrastructure and Enterprise Zone Authority (TIEZA) Chief Operating Officer / General Manager Pocholo Paragas formally signed Agreements with various Tourism Enterprise Zone (TEZ) Developers on December 5, 2017 held at the Makati Diamond Residences in Makati City.
COO Paragas signed the designation of Panglao Bay Premiere as Flagship TEZ. Mr. Marlito Uy, President of the Alturas Group of Companies, together with Ms. Hope Marie Uy, Managing Director of Panglao Bay Premiere Parks and Resorts Corporation, signed in acceptance. The Panglao Bay Premiere Flagship TEZ in Bohol, known for its white sand beach frontage, was master planned to be developed into an integrated leisure resort.
Sector Atty. Niño Aquino with Mr. Marlito Uy, President of the Alturas Group of Companies,
and Ms. Hope Marie Uy, Managing Director of Panglao Bay Premiere Parks and Resorts Corporation.
Also signed were the registration of Bravo Hotel Corporation as the Operator / Tourism Estate Management Facilities and Services (TEMFS) for Bravo Golf Resorts TEZ in Negros Oriental; the registration of ACQ Solomonic Builders Development Corporation as the Operator / TEMFS for the Kingdom Global City TEZ in Davao City; and the registration of Hijo Resources Corporation as the Operator / TEMFS for the Hijo Resources TEZ in Davao del Norte. These Tourism Enterprise Zones are all master planned to become integrated leisure establishments.
Bravo Hotel Corporation President and CEO Atty. Edilberto Bravo, with Vice President Ms. Emily Gepilano; ACQ Solomonic Builders Development Corporation’s Atty. Pearl Canada with Mr. Marc Ramos; and Hijo Resources Corporation President Ms. Rosanna Fores signed in acceptance of their respective registrations. As TEZ Operators or TEMFS, they shall administer the TEZ and supervise its activities. They shall also handle the property by developing, operating, and controlling development to be faithful to the master plan.
Management Sector Atty. Niño Aquino with Bravo Hotel Corporation President &
CEO Atty. Edilberto Bravo and Vice President Ms. Emily Gepilano.
with Hijo Resources Corporation President Ms. Rosanna Fores
A Tourism Enterprise Zone is an area characterized by being a contiguous territory; bearing historical and cultural significance, environmental beauty or tourism potential; having strategic access to utilities and transportation; stimulating sustainable socio-economic development; at least five (5) hectares in land area; and is at least five million dollars in investment. Private entities/corporations, Local Government Units/government instrumentalities, or Joint Venture Cooperation between the private and public sector may apply for designation as TEZs. On the other hand, a Flagship TEZ is a joint initiative of the Department of Tourism (DOT) and TIEZA to seek out and develop areas in the Philippines with viable tourism potential.
The formalization of the foregoing Agreements highlights the importance of collaborations between TIEZA and the private sector. This in turn would contribute to a more competitive, sustainable and inclusive Philippine tourism industry. With the release of a clarification from the Bureau of Internal Revenue (BIR) on May 31, 2017 affirming that the incentives for TEZs under the Tourism Act of 2009 may be enjoyed by investors even beyond 2019 or until these incentives are fully realized, TIEZA reiterates its call to potential investors to apply with TIEZA before 2019.
Interested applicants for designation of TEZs and registration of Tourism Enterprises and its incentives may inquire from the TEZ Management Secretariat at (02) 551-95-56 or email@example.com. For more information on TEZs, visit www.tieza.gov.ph.