FOLLOWING the cessation of the state of emergency in Mindanao, an official from the Tourism Infrastructure and Enterprise Zone Authority (Tieza) urged potential investors to consider the Davao Region as a lucrative destination for tourism investments.
During the Tieza Investment Roadshow's Mindanao leg at the Waterfront Insular Hotel on November 8, Tieza assistant chief operating officer lawyer Karen Mae Sarinas-Baydo said, “Davao is not just another place, Mindanao is not just another island in the Philippines, we believe that it is an ideal place for business and investment.”
She addressed prevailing misconceptions about Mindanao, asserting that it has evolved into a secure and popular destination, a thriving business center with diverse offerings in nature, culture, and heritage.
Proclamation No. 55, effective September 4, 2016, had imposed a state of emergency in Mindanao due to threats posed by private armies, local warlords, criminal syndicates, and terrorist groups. However, on July 25, 2023, President Marcos lifted the state of emergency, marking the success of military operations in restoring peace.
Baydo shared ongoing collaborations with the Mindanao Development Authority (MinDa) to reshape Mindanao's image positively, a crucial step to attracting more investors.
“We know that travel advisories will be lifted also they are forthcoming so we can progressively help and build a positive image on Mindanao, this signals the first step for investors and tourists to take a look at Mindanao, not just a travel destination but more so as a tourism investment destination,” Baylo said.
Through partnerships with Tieza, investors stand to benefit from incentives outlined in the Corporate Recovery and Tax Incentives for Enterprises (Create Act), including an income tax holiday for up to 10 years, VAT exemptions, enhanced deductions, and special corporate income taxes, contingent on compliance with necessary documents.
Interested investors planning new business ventures or expansion projects, such as renovations or restructuring, are encouraged to explore opportunities.
These enterprises span tourist transport services, accommodation establishments, amusement parks, eco-tourism facilities, sports centers, theme parks, health and wellness facilities, farm tourism, tourism training centers, retirement villages, and the operation of historical landmarks.
Maria Belen Acosta, MinDA chairperson, commended Tieza for bringing the roadshow to Mindanao, seeing it as an excellent platform to showcase the region's investment potential.
“With our combined efforts in Davao City and Mindanao as a whole, we can surely take advantage of the various economic opportunities and partnerships in the sector,” Acosta said in a speech.
Tanya Rabat-Tan, the Department of Tourism - Davao Region (DOT-Davao) regional director, suggested that local government units be informed about Tieza's incentive packages and encouraged property owners to consider establishing tourism economic zones (TEZ).
Rabat-Tan highlighted the advantages of TEZs, citing examples like the King Dome near the Davao International Airport in Davao City and Hijo Resources Corporation in Tagum City, Davao del Norte.
“With our combined efforts in Davao City and Mindanao as a whole, we can surely take advantage of the various economic opportunities and partnerships in the sector,” Acosta said in a speech.
Also, DOT-Davap regional director Tanya Rabat-Tan said it would be nice if local government units would be aware of Tieza’s incentive packages and urge property owners to see the value of putting up tourism economic zones (TEZ).
Currently, the two TEZs in the region are the King Dome near the Davao International Airport in Davao City and Hijo Resources Corporation in Tagum City, Davao del Norte.
Tieza's explorations in various regions, including Bansalan and Hagonoy in Davao del Sur, and Manay in Davao Oriental, have signaled interest in establishing TEZs.
In an interview with the media, Rabat-Tan expressed that it would be beneficial for local government units to fulfill all requirements and be enlisted in TEZ, especially if the LGU recognizes its remarkable value.
Tieza, formerly known as the Philippine Tourism Authority (PTA), operates under the Department of Tourism, focusing on designating, regulating, and supervising TEZs to attract investments while overseeing tourism infrastructure projects. ICE