Saturday, 16 January 2010

Govt registers P36-b tourism projects

Roderick T. dela Cruz
Manila Standard
http://www.manilastandardtoday.com/insideBusiness.htm?f=2010/january/15/business5.isx&d=2010/january/15

Investments in the tourism sector hit P36 billion in the first 11 months of 2009, the Tourism Department said Thursday.

The department did not provide year-on-year comparison and specific breakdown of investments, saying the figures reflected the projects registered with the Philippine Economic Zone Authority and Board of Investments in the January-November period.

It identified 26 tourism investment projects in Metro Manila and other parts of the country. The projects, ranging from hotels, resorts, medical tourism facilities, sports and recreational facilities to agri-tourism facilities, were expected to provide 4,000 additional rooms and generate 15,000 jobs, it added.

“These projects mean strong investor confidence, more jobs and a gainful economy. Tourism is bound to have a positive year,” said Tourism Secretary Ace Durano.

The list is led by multi-billion-peso projects such as the Eagle Entertainment City and Bagong Nayong Pilipino Entertainment City in Parañaque.

Six new hotels and an entertainment complex in Metro Manila received fiscal incentives—M Hotel in Binondo, Remington Hotel in Pasay, Big Cedar Hotel in Malate, Microtel Inns and Suites in Pasig, Bayleaf Hotel Manila in Intramuros, Go Hotels-Cybergate in Mandaluyong and Newport Entertainment and Commercial Center in Makati.

2 comments:

  1. It is a good thing to know that Filipinos are still doing their best to have a lots of projects even if we all know that we are facing an economic crisis..

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  2. i just hope those developments are for the good of the filipino people, not just for the benefit of greedy business men

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