The President, however, noted that TIEZA’s problem seems to be its non-operating properties.
The PSAC reported that TIEZA’s primary source of funding comes from travel tax collection, which is insufficient to support its project requirements. The advisory body’s medium- and long-term recommendations include reviewing, simplifying, and standardizing the privatization or bidding process, leveraging properties to undertake more tourism infrastructure projects, and establishing and issuing a long-term Strategic Tourism Infrastructure/Investment Masterplan.On the proposal to grant more allocation for TIEZA from the travel tax, the DOT said the move requires amendment to the law, and may not materialize within a year, as eyed by the PSAC.
Source: Holiday News (holidaynews.net)
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