DOT endorses 5 projects to BOI, PEZA
The Department of Tourism ( DOT) has endorsed five tourism- related developments to the Board of In- vestments ( BOI) and the Philippine Economic Zone Authority ( PEZA) in the second quarter, bringing the total cost of new investments in the sector to over P12.2 billion in the first half of the year.
The five projects, with a total investment cost of P1.8 billion, receive incentives during the April to June period, documents obtained by The
STAR showed. Three of the projects are located in Palawan, namely the P189- million five- star resort of Amanpulo Villas Kamansi Holdings Inc., in Pamilacan Island, Cuyo; the P864- million four- star Best Western Ivy Wall Hotel in Puerto Princesa City; and the P35- million three- star Blue Palawan Beach Club also in Puerto Princesa City.
The two other resort- oriented projects will rise in Bohol – the P200million four- star Eskaya Beach Resort and Spa in Panglao and the P20- million Belian Hotel in Tagbilaran City.
Meanwhile, another project is the P494.5 million, three- star Seda Atria Hotel in Mandurriao, Iloilo City.
These are on top of the four hotel projects worth P10.45 billion endorsed in the first quarter. These include the P2.4 - billion Discovery Primea in Makati City, the P8- billion Winford Hotel in Manila, the P20million Belian Hotel in Bohol and the P34.65- mill io n Executive Tulip Apartelle in Davao City.
In total, the nine project endorsements were worth P12.24 billion. Of the total, seven projects were endorsed to the BOI and two with PEZA.
All of the tourism projects are expected to add 652 rooms and 486 employment opportunities once completed.
The DOT endorsement is necessary for tourism developers to be eligible in availing of incentives under the 1987 Omnibus Investment Code or Executive Order 226 and the Special Economic Zone Act of 1995 or Republic Act 7916.
Last year, the DOT endorsed P33.94-billion worth of tourism investments to BOI and PEZA, with some proje ct s from the country’s top developers.
The endorsements cover 16 projects, which include hotels, inns, an educational theme park and an eco-tourism estate.