Puerto Princesa eyes eco estate conversion
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PUERTO PRINCESA CITY, Palawan — The local government here is optimistic that the environmental estate it is targeting to convert into a Tourism Enterprise Zone will get the accreditation of the Tourism Enterprise Zone from the Tourism Infrastructure and Enterprise Zone Authority.
The 1,072-hectare environmental estate, situated in Barangay Sta. Lucia south of Puerto Princesa City, is envisioned by the city government as a meticulously planned community. This development aims to accommodate various tourism enterprise facilities, including a state-of-the-art, 30,000-capacity international convention center.
Plans include the creation of a scenic man-made lake, intended to offer an array of water sports activities for visitors and residents alike.
Mayor Lucilo Bayron said on Monday that a team from TIEZA visited last week to assess the environmental estate, which boasts a harbor view and is located 27 kilometers from the city downtown.
He added that the team expressed admiration for the comprehensive proposal presented by the city government.
“Now, we will undergo an appraisal and technical due diligence process. After that, the environmental estate will be declared as a TEZ,” Bayron said.
He added that the TEZ accreditation will bring benefits such as fiscal and non-fiscal incentives for interested investors. These incentives, along with the declaration of Puerto Princesa as the fastest-growing economy outside the National Capital Region, are significant factors that will attract more investors.
