Posted on

The Tourism Infrastructure and Enterprise Zone Authority (TIEZA) presented on November 21, 2017 investment opportunities in the TIEZA Flagship Tourism Enterprise Zones (TEZs) to the members of the French Chamber of Commerce and Industry (CCI France-Philippines); the German-Philippine Chamber of Commerce and Industry (GPCCI); and the Spanish Chamber of Commerce in the Philippines (La Cámara). 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. Among the investment opportunities presented are establishment of a water supply and distribution, and power utility in San Vicente, Palawan; development of a waterfront for the Rizal Park Complex, Manila; building a cable car system and hotels in Mt. Samat Shrine, Bataan; and establishment of family hotel resorts and a Meetings, Incentives, Conventions, and Exhibitions (MICE) Center in Panglao Bay Premiere, Bohol.

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 until these incentives are fully realized, investors were encouraged to apply with TIEZA before 2019.

The Philippines is the next big thing in tourism and TIEZA offers several investment opportunities that would pave way for the private sector to become part of the steadily growing development of high-impact tourism infrastructures.

In Photo:The TIEZA Tourism Enterprise Zone Management Sector organized a luncheon meeting with members
of the French Chamber of Commerce and Industry (CCI France-Philippines); the German-Philippine Chamber
of Commerce and Industry (GPCCI); and the Spanish Chamber of Commerce in the Philippines (La Cámara) 
at the Dusit Thani Manila to discuss the various investment opportunities in the TIEZA Flagship Tourism
Enterprise Zones (TEZs).

Interested parties may inquire from the TEZ Management Secretariat at (02) 551-95-56 or tez.secretariat@gmail.com.