DOT, PwC agree to spur tourism investments

By Joyce Ann L. Rocamora

March 24, 2018, 10:02 am

MANILA -- The Department of Tourism (DOT) and business consultancy firm, PricewaterhouseCoopers Philippines (PwC), have signed a memorandum of understanding that seeks to develop projects promoting the Philippines as a premier tourist destination.

Tourism Undersecretary Alma Rita Jimenez and PwC Chairman Alexander Cabrera signed the agreement on March 23

PwC said the partnership would encourage more tourism investments in the Philippines.

Among the agreement’s initiatives are sharing of information, expertise and technical assistance, organizing and undertaking activities to improve investment-readiness and attractiveness.

Jimenez said PwC will be considered as a “Knowledge Partner" of the DOT for the purpose of Philippine tourism investment promotion.

“Part of our mandate is to boost investments in the country and through this partnership we are able to create a platform where people can take a look at investment prospects in tourism. It helps also that we partnered with an independent and credible partner,” she said.

The DOT said tourism, as a source of inclusive poverty reduction in the developing countries, contributed 8.6 percent to the Philippine economy in 2016 and has employed 5.2 million Filipinos in various sectors, which make up 12.8 percent of the total workforce.

PwC specializes in delivering audit, tax, and advisory services. Its guidebooks in doing business and investing in the Philippines have been institutional business reference materials. (PNA)