Tourism industry key players gathered for the Visayas Cluster of TIEZA Investment Roadshow, entitled “TIEZA Investment Incentives and Opportunities for Tourism Enterprises,” held on 18 October 2023 at South Palms Resort in Panglao, Bohol.
This is part of the investment roadshow series conducted by the Tourism Infrastructure and Enterprise Zone Authority (TIEZA) annually, in partnership with the Department of Tourism (DOT) Regional Offices, which aims to apprise the tourism stakeholders in the region on the TIEZA’s incentives program under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act and the registration process with TIEZA for the grant of such incentives, as well as promote viable tourism products offered by TIEZA.
The roadshow for the Visayas Cluster was organized with the assistance from the DOT-Central Visayas Regional Office and the Bohol Chamber of Commerce and Industry (BCCI). It was attended by representatives from the various tourism enterprises, local chambers, local government units and agencies, and other tourism-related establishments.
Assistant Chief Operating Officer for TEZ Management Sector, Atty. Karen Mae G. Sarinas-Baydo, led the opening of the program, emphasizing the significant role of TIEZA in promoting the Philippines as a prime tourism investment destination and ways to engage with TIEZA especially in the sustainable tourism development of the region.
TIEZA Chief Operating Officer Mark T. Lapid, through a video message, sent his warm welcome to all the participating tourism stakeholders and urged them to take advantage of this opportunity in realizing a long-term growth for their businesses.
On the first part of the program, Evaluation and Registration Division Manager Donald R. Maldonado highlighted the tax and duty incentives offered by TIEZA under the CREATE Act to New Business Enterprises and Qualified Expansion Projects.
He also promoted the investment opportunities in Flagship TEZs with the private sector, such as Mt. Samat in Bataan, Corregidor Island in Cavite, San Vicente in Palawan, Rizal Park in Manila, and Panglao Bay Premiere in Bohol, which is home to South Palms Resort where the event took place.
As TIEZA is also looking for potential partners for the operation and management of TIEZA Assets, Business Development Department Manager Janeth Christine A. Ocampo presented various investment options in TIEZA Assets that are available for public-private cooperation, which include Balacad property in Ilocos Norte, Boracay Property in Aklan, Moalboal Property in Cebu, and Balicasag Island Dive Resort in Bohol among others.
Moreover, TIEZA invited several financial institutions to introduce loan programs which can be of assistance to investors with tourism projects, specifically to micro, small, medium enterprises (MSMEs). The Development Bank of the Philippines (DBP), Assistant Vice President for the Public Sector Department Gerard Boz C. Tungol, presented DBP’s programs such as Connecting Rural Urban Intermodal Systems Efficiently (CRUISE) Program which employs medium and long-term funds for connectivity infrastructure. While Small Business Corporation (SBCorp), Visayas Group Head Francisco R. Buenavides, highlights Resilient, Innovative and Sustainable Enterprises, Unleash your powers (RISE UP) with SBCorp Program, it aims to sustain the gains of MSMEs by providing multi-purpose loans with soft terms.
In her closing remarks, BCCI Vice President for External Affairs, Ms. Marietta Gasatan expressed her gratitude to TIEZA for conducting such roadshow, stressing possibilities and opportunities for boundless collaboration and innovation between TIEZA and the tourism stakeholders in Central Visayas.
The program was also graced by the Provincial Governor of Bohol, Hon. Erico Aristotle Aumentado. He conveyed his appreciation to TIEZA for initiating programs and big-ticket projects that are instrumental in the improvement of tourism services in the province.
The event also served as a venue to network potential partnerships among 80 participating tourism stakeholders from the public and private sectors who are all aligned with TIEZA’s efforts in enticing the local tourism in the region.
Interested investors may contact our TEZ Management Secretariat at 8249-5900 local 724 or e-mail us at tez.secretariat@gmail.com and tez.secretariat@tieza.gov.ph. You may also follow us on Facebook at www.facebook.com/tezmgmt and on LinkedIn at www.linkedin.com/in/tezmgmt.