2 TEZ projects OK’d

The Tourism Infrastructure and Enterprise Zone Authority (Tieza) has approved two tourism-related projects in the Davao Region recently.

In a statement released last month, Tieza identified the projects as those of ACQ Solomonic Builders Development in Davao City and Hijo Resources Corp. in Davao del Norte as tourism enterprise zones (TEZ).

The government agency recently conducted a two-day orientation to the operators of the companies. It also discussed with other operators such as those of Panglao Bay Premier and Bravo Golf Resort and Residences.

“The participants were acquainted of the benefits and responsibilities of being a TEZ operator; requirements to maintain designation; procedures on how to avail of incentives and how to obtain permits and licenses; and the participation of operators in the monitoring of TEZs,” Tieza said.

ACQ Solomonic Builders Development Corp., a company under the Kingdom of Jesus Christ, The Name Above Every Name Inc. led by Pastor Apollo C. Quiboloy, is building a mixed-use Kingdome project.

The company applied to make its project as tourism enterprise zone in 2015. This included the establishment of 55,000-capacity multi-purpose dome arena complex, hotel and commercial center.

Meanwhile, Tieza approved the application of Hijo Resources Corp. as tourism estate management facilities and services (TEMFS) of its Hijo Resorts in Tagum City, Davao del Norte. Hijo Resorts was designated as TEZ.

“As TEZ operators, they shall administer the TEZ and supervise its activities while as TEMFS, they shall handle the property by developing, operating, and controlling development to be faithful to the master plan,” Tieza said.

The agency said the companies can avail of incentives. Under the Tourism Act of 2009, among the incentives include six-year income tax holiday, exemption from value-added tax and excise tax goods imported by Tieza-registered activities. (KMF)

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