Seda secures tax perks

Ayala Land Hotel and Resorts Corp. (AHRC) has secured tax perks for its P1.7 billion Seda Lio Resort in Palawan.

The Board of Investments said it recently approved the application of Seda Lio Resort as the first inclusive business model (IB) project under the current Investment Priorities Plan (IPP).

Constructed and operated by AHRC subsidiary Econorth Resort Ventures Inc., the Seda Lio Resort is located within Ayala Land Inc.’s 325-hectare Lio tourism estate in El Nido, Palawan.

The 153-room Seda Lio Resort, which is scheduled to start operations within this quarter, is part of ALI’s plan to spend around P11 billion through 2022 to develop the Lio tourism estate.

“This development is a boost to Palawan not only as one of the country’s top tourist destinations, but also as being at the forefront of promoting a healthier environment and having an IB model wherein the community is engaged in a sustainable manner,” Trade Undersecretary and BOI managing head Ceferino Rodolfo said.

With the integration of the lowincome community in the value chain through employment and sourcing of goods, the project would have inclusive impact on the marginalized sector with at least 30 percent of the jobs given to women.

The target income would be the minimum wage or baseline income plus 20 percent increase, whichever is higher.

In addition, IB firms need to provide technical assistance and capacitybuilding to MSEs, and/or facilitate access to finance.

Econorth estimates total costs of about P243.8 million a year, with services sourced from MSEs of about P60 million by the third year of operation.

It has also committed to support staff development in order to provide more opportunities for employees.