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[Palawan] Govt endorses new tourism ecozone project for fiscal incentives

Tuesday, October 14, 2008 [ manilatimes.net ]


The Department of Tourism recently endorsed to the Philippine Economic Zone Authority new investments in Pamalican Island Tourism Economic Zone (PITEZ) in Palawan.


In a statement, DOT said the investments worth around P430 million coming to PITEZ in Barangay Manamok, Cuyo, Palawan, would be put up for new resort villas by Almonavides Holdings Inc., Salamanca Holdings Inc., Sugihara Holdings Inc. and Vauban Holdings Inc.


In accordance with the master plan of the main developer, Seven Seas Resort and Leisure, the locators will individually construct triple-A-class resort villas consisting of four rooms, a living pavilion, service building, and swimming pool, to provide accommodations and facilities in the tourism economic zone, according to Eduardo Jarque Jr., Tourism undersecretary for planning and promotions.


These new projects are on top of the P9.1-billion investments endorsed for the first half of the year by DOT.


Pamalican belongs to the Cuyo group of islands in Sulu Sea, located between Palawan and Panay, and sits on top of a seven square-kilometer coral reef, thus making it a popular diving destination.


“The ongoing [global economic] crisis is a welcome opportunity for us as foreign investors are looking for more cost-efficient investments,” said Tourism Secretary Joseph Ace Durano.-- Ben Arnold O. de Vera

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