MANILA -- The Tourism Infrastructure and Enterprise Zone Authority (TIEZA) on Tuesday registered three new tourism enterprises inside the Flagship Tourism Enterprise Zone (FTEZ) in San Vicente, Palawan and in Boracay, Aklan.
TIEZA Chief Operating Officer Pocholo Paragas awarded the certificates of registration to the Lazuli and Kabote Beach Resort in San Vicente, and the Signature Suites in Boracay.
The newly-registered tourism enterprises (RTEs) are expected to provide grounds for tourism development in its respective areas through investment opportunities offered and the jobs they will generate.
Paragas said these registrations are the last approvals for this year. But by August 2019, TIEZA targets at least 12 new registrations.
"We really have a call to action until August 2019 and then of course we're still trying to review what we can do further to increase incentives in the application and incentives package," Paragas said.
"Given that short period, (we target) about 12 for next year," he added.
TIEZA has already designated and registered five FTEZ -- San Vicente in Palwan, Rizal Park Complex in Manila, Mt. Samat Shrine of Valor in Bataan, Panglao Bay Premiere in Bohol, and Bucas Grande in Surigao del Norte.
The Ciudad de Victoria in Bulacan, Queen's Castle Golf and Resort in Cebu, Bravo Golf in Negros Occidental, Hijo Resources in Davao del Norte, Kingdom Global City in Davao, Aton Land & Leisure Zone in Negros Occidental, and Amorita Resort in Bohol were designated as Tourism Enterprise Zones (TEZ).
Meanwhile, the following RTEs were named prior to the three new registered enterprises: the Philippine Arena, Kingdome Stadium, and Magikland inside the Aton Land & Leisure Zone.
TEZ-designated areas are granted fiscal and non-fiscal incentives such as six-year income tax holiday, 5 percent gross income taxation, and tax- and duty-free importation of goods and services. (PNA)
