Marigondon hotel project tagged inclusive business

A hotel project in Marigondon, Lapu-Lapu City is among the "inclusive" tourism-related projects registered by the Board of Investments last year.

The BOI registered Canvas Duawon Hotel and Resort, a P2-billion 308room tourist accommodation facility in Marigondon, Lapu-Lapu City.

The facility, according to BOI, plans to source raw materials and services amounting to P380.47 million from micro and small enterprises, and directly hire at least 30 marginalized individuals.

The BOI has included "Inclusive Business" as one of the priority activities in the current Investment Priorities Plan.

In 2018, the first full year of implementation of the IB policy, the agency approved five IB models, including the Lapu-Lapu City hotel project.

These five projects in agriculture- and tourism-based industries collectively target to source Ph2.99 billion worth of goods and services from MSEs by the third year of their commercial operations, and directly hire at least 185 and engage over 1,000 individuals, at least 30% of which are women, from the marginalized sectors.

“The almost Php3 billion worth of goods and services being sourced from MSEs translate to decent jobs and livelihoods in the areas where these projects operate and to think that these are coming from only five projects. Just think of the impact that ten or a hundred projects will create in the countryside if we can get more companies to engage in IB,” Trade Secretary Ramon Lopez said in a statement.

“Investment should not only be about size; it should also provide added value in the area where the project operates. Inclusive Business is our means to increase substantial investment especially in human capital by enhancing entrepreneurial drive of the people at base of the pyramid," Trade Undersecretary and BOI managing head Ceferino Rodolfo also said.

More proactive work still has to be done to see concrete impact of IB in rural development and poverty reduction, the BOI said.