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Philippines |
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20 Mindanao tourism investment areas listed |
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Source: Manila Bulletin |
Author: Lynda B. Valencia |
Date: 1999-07-10 |
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MANILA (PNA) - Tourism Secretary Gemma CruzAraneta recently called
on the private sector to invest in tourism-related project in Mindanao,
saying the island has a great potential to become a major tourist
destination.
During the recently-concluded Mindanao Investment Forum held at the Asian
Institute of Management (AIM) Araneta said, "Mindanao possesses the
natural, cultural and human resources required for a major tourist destination.
What's still partly missing are the requisite transport, communications and
tourism infrastructure."
Araneta said Mindanao has many opportunities for tourism investments which
the private sector can take advantage of and realize hefty returns.
The Secretary said prospective investors in tourism can raise their capital
requirements through the stock exchange.
One special investment opportunity that investors can look into is the 4.000
Samal Island tourism estate, Araneta said.
The island is being developed into an integrated resort complex with various
tourist facilities, recreational centers and commercial outlets.
She said of the 20 identified sites for tourism development, 13 are still open to
interested investors.
Araneta said under the Tourism Master Plan (TMP), Mindanao is being
positioned asa a colorful cultural destination and an exotic natural paradise.
She said with two primary gateway - Davao City and Zamboanga City - and
three secondary gateways - Cagayan de Oro City, Dipolog City and General
Santos City - Mindanao tourism is expected to boom in the next few years.
What will accelerate the development of Mindanao tourism, she said, are the
formation of the East Asian Growth Area, the forging of the peace agreement
between the government and the Moro National Liberation Front, and the
passage of the local Government Code of 1991, which gave local government
units the power to undertake their own tourism projects.
While the DOTsets the broad policies for national tourism planning and
development and promotes the country's image in foreign lands, it is still the
private sector and the local communities that will make tourist destinations
attractive and memorable, Araneta pointed out.
To encourage the private sector to invest in tourism projects, the government
will be providing the following:
Market research and information on the demand and supply side of
Philippine tourism.
Fiscal and non-fiscal incentives for tourism investments, some of which
still have to be legislated.
Assistance in the formation of joint ventures between foreign and
domestic investors and between investors and local authorities.
Schemes for private sector participation in centerpiece programs.
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