Tourism Investment Luncheon

23.11.17 AHK News

On 21 November 2017, the German Philippine Chamber of Commerce and Industry, together with the French and Spanish Chambers participated in the Tourism Investment Business Luncheon hosted by the Tourism Infrastructure Economic Zone Authority (TIEZA).

Members of the different Chambers attended the luncheon which focused on understanding the investment opportunities and incentives of applying businesses under the tourism economic zones. TIEZA is a corporate body under the supervision of Department of Tourism. TIEZA is mandated to develop, manage, and supervise tourism infrastructure projects nationwide; to designate, regulate, and supervise Tourism Enterprise Zones (TEZs) established under R.A. 9593; and to grant and administer fiscal and non-fiscal incentives.

 

A TEZ must have the following qualities:

  • one contiguous territory
  • has historical and cultural significance, environmental beauty, or existing or potential integrated leisure facilities
  • has or may have strategic access through transportation infrastructure, and connection with utilities infrastructure systems
  • at least 5 hectares in size
  • located at a strategic location

TIEZA also presented its four flagship Economic Zones: Rizal Park, San Vicente (northwest of Palawan), Panglao Bay (Bohol), and Mt. Samat. These Economic Zones are joint ventures with Department of Tourism, TIEZA, and its property owners.

TIEZA also provides fiscal and non-fiscal incentives such as income tax holidays, net loss carry over, gross income taxation, tax credit, tax and duty-free importation of certain products, social responsibility incentive, employment of foreign nationals, special investor’s resident visa, and lease of land.

TIEZA aims to encourage the private sector to enhance the visitor experience in the Philippines through their incentives and therefore to contribute to the ease of doing business.

For more information on how to apply for Tourism Economic Zones, please see link here.