{"id":102511,"date":"2017-05-16T00:06:12","date_gmt":"2017-05-16T04:06:12","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=102511"},"modified":"2017-05-16T00:06:12","modified_gmt":"2017-05-16T04:06:12","slug":"chinese-investors-urged-to-raise-stake-in-phl-tourism-infra-devt","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/05\/16\/chinese-investors-urged-to-raise-stake-in-phl-tourism-infra-devt\/","title":{"rendered":"Chinese investors urged to raise stake in PHL tourism infra dev\u2019t"},"content":{"rendered":"
\"As<\/a>
As the Duterte administration continues to pursue a thrust to build more infrastructure, a tourism official has urged Chinese investors to raise their stake in doing business in the Philippines. (PNA photo<\/a>)<\/figcaption><\/figure>\n

MANILA\u2014As the Duterte administration continues to pursue a thrust to build more infrastructure, a tourism official has urged Chinese investors to raise their stake in doing business in the Philippines.<\/p>\n

Tourism Secretary Wanda Teo made this call during a business forum held at the Grand Hyatt ahead of the \u201cBelt and Road Forum\u201d, the biggest diplomatic event in Beijing.<\/p>\n

\u201cI urge you to raise your stake on our country and be part of the dawning of a new era \u2014 the \u2018golden age of infrastructure\u2019,\u201d Teo said before at least 17 key Chinese corporations.<\/p>\n

\u201cNow is the time to look at the Philippines from a different light, not just a place to visit and enjoy its destination, but a place to do business as well,\u201d she added.<\/p>\n

She said that the Department of Tourism (DOT) has already identified various investment opportunities and possible business partnerships across the country.<\/p>\n

Among these are the redevelopment of the historic \u2018Old Walled City\u2019 of Intramuros, the proposed Philippine Travel Center, and the 49 \u2018high-value assets\u2019\u2014six of which are operational, while the rest are classified either with masterplan or raw land\u2014under the agency\u2019s Tourism Infrastructure Economic Zone Authority (TIEZA) belt.<\/p>\n

\u201cWith the \u2018Build, Build, Build\u2019 thrust of the current administration, tourism infrastructure ranging from airports, seaports to hotels are integral to cope with the booming Philippine tourism industry. We are prepared to offer both fiscal and non-fiscal incentives through our tourism enterprise zone (TEZ) model,\u201d Teo.<\/p>\n

Teo further said that it was the best time to invest in the Philippines because of closer relations between the Philippines and China following Pres. Duterte\u2019s and Chinese President Xi Jin Ping\u2019s historic meeting at the Chinese capital in October last year.<\/p>\n

The meeting brought home USD 24 billion investment pledges, including a revitalized tourism development deal between the Philippines and China.<\/p>\n

\u201cThis meeting ushers in a new chapter in our efforts to further heighten cooperation in tourism development between the Philippines and China,\u201d Teo said.<\/p>\n

Responding to concerns of Chinese investors on the Philippines\u2019 \u201ccapacity\u201d for the influx of international arrivals to the country, Teo assured them that it was being addressed.<\/p>\n

She said that its medium term tourism infrastructure program of over Php 600 million for 2017 to 2022 allocated for airport, cruise ports, roads, railways, site infrastructure, and TEZs, including private sector investments of over Php 2.2 trillion on transport units and accommodation.<\/p>\n

\u201cOur numbers will speak for itself. We are hitting new targets with our continuing and sustained efforts. February of this year alone, tourist arrivals to the country hit a four-year high counting a total of 579,178 visitors, an increase of 27.81 percent since 2013,\u201d Teo said.<\/p>\n

Teo arrived in Beijing ahead of Pres. Duterte to join 29 other heads of state, governments, and international organizations, including Chinese President Xi and Russian President Vladimir Putin at the \u201cBelt and Road Forum for International Cooperation\u201d starting Sunday until Monday (May 15).<\/p>\n

At present, China is the second largest trading partner of the Philippines, according to DOT Undersecretary Rolando Canizal citing the growing interest of Chinese investors to bring in tourism infrastructure projects to the country.<\/p>\n","protected":false},"excerpt":{"rendered":"

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