The Tourism Infrastructure and Enterprise Zone Authority (TIEZA) is encouraging investments in tourism-related businesses.
Aside from investing in their own businesses, investors have the opportunity to partner with the TIEZA for the development of its properties, two of which are located in Cebu, said Atty. Karen Mae Sarinas-Baydo, TIEZA TEZ Management Sector assistant chief operating officer.
Ms. Sarinas-Baydo was among the speakers during the holding of the Regional Investment Roadshows series, the first of which is held at Dusit Thani Hotel, Punta Engano, Lapu-Lapu City, Cebu.
Assistant Chief Operating Officer for Tourism Enterprise Zone Management Sector, Atty. Karen Mae G. Sarinas-Baydo
Among the properties that TIEZA is offering for partnership to investors are the Kang-irag Golf Course in Barangay Malubog, Cebu City and another property in Moalboal, Cebu, she said.
The Kang-Irag Golf Course property is around 945,400 sq. meters and valued at P208 million as of 2009. It is open for sale or lease. The authority also owns an 11.47-hectare property at the Sitio Tap-anan, Basdiot, Moalboal. Cebu.
TIEZA’s other assets are the Balicasag Island Diver Resort at Balicasag Island, Panglao, Bohol; Argao Beach Club and Dalaguete Beach Park at Barangay Casay, Dalaguete, Cebu; Maomawan property at Barangay Babag Cebu City.
Those who are interested can get in touch with the TIEZA Cebu Field office for further details on possible partnership for the development of these properties, according to Sarinas-Baydo.
Meanwhile, Mr. Donald Maldonado, manager of Tourism Infrastructure and Enterprise Zone Authority (TIEZA) Evaluation and Registration Division, explains fiscal incentives under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.
TIEZA-Evaluation and Registration Division Manager, Mr. Donald Maldonado
The CREATE Act, which was signed into law on March 26, 2021, lowered income tax rates for specific tax types, allows exemptions for certain taxable activities and repealed certain taxes.
The Cebu roadshow was organized by TIEZA, in cooperation with the Department of Tourism Regional Office in Central Visayas and supported by the Cebu Chamber of Commerce and Industry.
Those who attended the event are engaged in tourism-related businesses in Central Visayas region.
Representatives from the public financing sector and private associations also serve as resource speakers. The Development Bank of the Philippines (DBP) discussed its role in the development of Philippine tourism while the Small Business Corporation (SBCorp) introduced its loan programs that could assist tourism-related enterprises, specifically. for micro, small and medium enterprises (MSMEs).
One-on-one consultations were also conducted with interested participants to apprise for further assistance.
TIEZA aims to promote a business-friendly investment climate in the Philippines. It also hopes to attract new investors to help the government in its tourism development thrust. (Photos by Tourism Enterprise Zone Management Sector FB Page)