The Tourism Infrastructure and Enterprise Zone Authority (TIEZA) joined the 12th Edition of the Annual Investment Meeting (AIM Global 2023), held on 08-10 May 2023 at the Abu Dhabi National Exhibition Centre (ADNEC) in Abu Dhabi, United Arab Emirates (UAE). The Department of Tourism (DOT) and Tourism Promotions Board (TPB) were among the members of the Philippine delegation led by TIEZA Chief Operating Officer Mark T. Lapid, together with Assistant Chief Operating Officer for the Tourism Enterprise Zone Management Sector, Atty. Karen Mae G. Sarinas-Baydo.
Ambassador to the UAE, H.E. Alfonso Ferdinand A. Ver, along with the Philippine Trade and Investment Center (PTIC)-UAE Commercial Attaché Charmaine Yalong, graced the opening of the Tourism Investment Philippines Pavilion, the first exhibition of Philippine tourism investment opportunities in the UAE, to extend their strong support to the Philippine delegation to promote the tourism profile of the Philippines. Likewise, business-to-business meetings with prospective investors were conducted inside the booth. It is expected to increase the Authority’s presence in the global investment scale and ultimately boost its probability to generate more foreign direct investment in the country, with attendees comprising of Investment Promotions Agencies (IPA), developers, representatives from government entities and other investment organizations’ top executives from over 140 countries all over the world.
TIEZA featured a 27-sqm pavilion which highlighted priority investment areas for tourism where TIEZA Flagship Tourism Enterprise Zones (FTEZ) and TIEZA Assets are located. These include Bataan, Corregidor, Rizal Park, San Vicente, Palawan, Panglao, Bohol, Ilocos Norte, Boracay Island, and Cebu. These areas have identified projects which are open for locators as well as for Joint Venture Partnerships.
In conjunction with the participation at AIM Global 2023, the PTIC-UAE, in partnership with the Philippine Embassy in the UAE also organized a TIEZA investment mission to meet with high level decision-makers from the Abu Dhabi-based private companies and global development & public tourism investment organizations, such as Al Ain Holding, Emirates International Investment Company (EIIC), Abu Dhabi Fund for Development (ADFD), and Emirates Investment Authority.
The Philippine delegation headed by TIEZA presented the profile of the Philippine tourism industry and outlined tax and duty incentives under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act including Income Tax Holiday, Enhanced Deductions, Duty Exemption on Importation of Capital Equipment and Special Corporate Income Tax which may be granted to priority tourism investment projects and activities. Aside from the incentives that prospective investors may avail, the said presentation also includes the TIEZA Assets that is open for foreign investments.
“It is a pleasure to note that the Philippines is increasingly becoming an attractive investment, trade and tourism destination for the UAE. The visit of TIEZA COO Mark Lapid, as well as the warm reception by UAE entities bodes well for closer trade and investment ties between the Philippines and the UAE,” Ambassador Ver said.
The AIM is a premier worldwide investment platform in the UAE initiated by the AIM Foundation to empower the world’s economy by boosting effective promotion strategies and facilitating opportunities for economic productivity and expansion through creating investment opportunities, upholding solidarity and developing economic relations among nations, as well as addressing the global challenges that affect economic growth.
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.
