On September 25, 2018, The Tourism Infrastructure and Enterprise Zone Authority (TIEZA), in partnership with the Department of Tourism – Region XI, will hold a TEZ investment Forum in Davao City following its successful regional roadshow in Waterfront Cebu City Hotel & Casino with the DOT – Region VII last September 13, 2018.
TIEZA invited speakers from the DOT Region XI, Philippine Retirement Authority (PRA), Trade & Investment Development Corporation (TIDCorp), and Development Bank of the Philippines (DBP) to discuss about investment situation in the Philippine tourism focusing on investment opportunities to entice companies and agencies, emphasizing their roles in the socio-economic development of the country. The forum is expected to be attended by various local and foreign chambers of commerce, developers, tourism enterprises, consultancy/law firms, tourism associations, and other tourism related establishments around the region.
A Tourism Enterprise Zone (TEZ) is an area of at least 5 hectares in size and is in one contiguous territory with historical and cultural significance, environmental beauty, or existing potential integrated leisure facilities within its vicinity. TEZs are the next big thing in tourism development as they create a potential investment environment for both the public and private sectors which will help boost the Philippines’ economic development and inclusive growth. As the investment arm of the DOT, TIEZA aims to work on the ease of doing business through its One-Stop Shop, which helps reduce the amount of processing time and paperwork for the designation and registration of TEZs by assisting investors in getting all the necessary government documents and permits required for TEZ designation and registration such as the issuance of necessary visas for foreign investors. Incentives will also be available to TEZ investors such as income tax holiday, gross income taxation, tax free and duty free importation, and tax credits, among others.
To date, TIEZA has already designated and registered a total of fourteen (14) Tourism Enterprise Zones and Tourism Enterprises, five (5) of which are Flagship TEZs namely San Vicente, Panglao Bay Premiere, Mt. Samat Shrine, Rizal Park Complex, and Bucas Grande; seven (7) Private TEZ, namely, Ciudad de Victoria, Queen’s Castle Golf and Resort, Bravo Golf, Hijo Resources, Kingdom Global City, Aton Land & Leisure Zone, and Amorita Resort; and two (2) Registered Tourism Enterprises, namely, Magikland and Kingdome Stadium.
For designated Tourism Enterprise Zones and Registered Tourism Enterprises, fiscal and non-fiscal incentives such as the six-year income tax holiday, 5% gross income taxation, tax and duty free importation of goods and services, capital investment and equipment, transportation equipment, lease of land to foreign nationals, employment of foreign nationals, and foreign currency transactions, among others, will be available to tourism enterprises therein, as provided under R.A. 9593.
Interested attendees may register with Mr. Alkid Hatosa or Ms. Judy Colaljo of Department of Tourism Region XI at (082)-221-0070. For more information regarding investment opportunities, you may contact the TEZ Management Secretariat at (02) 512-01-14 or email us at firstname.lastname@example.org and email@example.com. For more information about TEZs, you may visit our website, www.tieza.gov.ph.