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Monday, April 11, 2005
DOT lists properties, infra for tourism dev’t
THE Department of Tourism (DOT) has identified 14 properties for tourism development in the Visayas, of which two are in Cebu.
These are the Miranila Tourism Estate in Barili and Aloguinsan, Cebu; and a 10-story building on McArthur highway.
The 2,800-hectare Miranila is seeking a joint venture agreement. In the pamphlet given to participants of last month’s The Philippines Investment Conference, the DOT placed the project cost of the tourism estate at $6-12 million.
On the other hand, the 819-square-meter building project on McArthur highway was listed as costing P16 million.
The other projects for tourism development in the Visayas as of January were the 49.9-hectare Jimbart Tourism Economic Zone and the 13,875-square-meter Jul Resort and Modernization Project—both in Panglao, Bohol.
Jimbart is seeking investors who may be interested in a lease or joint venture arrangement.
In Tablas, Romblon, an 800-hectare eco-tourism development project is also seeking a joint venture partner in Barangay Agpudlos. The estimated cost of this project is P1.7 billion.
During the conference at Shangri-la’s Mactan Island Resort attended by some 500 presidents and chief executive officers of multinational companies, Tourism Under-secretary Evelyn Pantig said the Philippines is promoting its destinations by grouping them into clusters, like the Cebu-Bohol-Camiguin cluster and the Iloilo-Boracay-Bacolod cluster.
To support tourism development in the Cebu-Bohol-Camiguin loop, the following were identified as the required infrastructure facilities: roll-on roll-off (roro) links from Cebu City to Tubigon, Bohol and Cebu to Dumaguete City, Negros Oriental; between Cebu and Bohol through Cordova, Mactan Island to Jetafe, Bohol; and from Jagna, Bohol to Mambajao, Camiguin.
Also required were inland transportation services and resort rehabilitation in Camiguin.
Cebu is offering incentives like an income tax holiday of four to six years, duty free importation of raw materials, a tax credit scheme and exemption from wharfage fees, among others, for investments in tourism development.
Bohol is offering a similar income tax holiday, exemption from the real property tax imposed under the Provincial Code of Bohol for seven years, and tax credit of 10 percent of the total cost of the infrastructure to be deducted from the future real property tax liabilities of registered enterprises.
Camiguin promises exemption from some local licenses and fees within three years from the start of commercial operation; exemption from real property tax and reduction in business taxes. CTL
(April 11, 2005 issue)
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