Manila Ocean Park seeks incentives for expansion

MANILA, Philippines - The operator of Manila Ocean Park is seeking incentives from the Board of Investments (BOI) for the expansion of its theme park.

“Notice is hereby given that China Ocean Philippines Inc., ...is applying for registration with the BOI as an expanding operator of theme park (Sea Life Discovery) on a pioneer status,” a published notice read.

Sea Life Discovery is located in the Manila Ocean Park.

The firm would be entitled to incentives such as exemption from the payment of income tax for three years, as well as other perks if its application is approved.

The government is offering incentives to firms investing in activities part of the Investment Priorities Plan (IPP).

Under the 2012 IPP, tourism was placed under the mandatory list.

The mandatory list is composed of activities requiring their inclusion in the investment promotions blueprint as provided for under existing laws.

Other activities in the mandatory list are industrial tree plantation; exploration, mining, quarrying and processing of minerals; publication or printing of books/textbooks; refining, storage, marketing and distribution of petroleum products; ecological solid waste management; clean water projects; rehabilitation, self-development and self-reliance of persons with disability; and renewable energy.

The Manila Ocean Park opened in March 2008.

It is the country’s first world-class marine theme park and premiere educational facility.

The park which has marine life attractions and an aqua-themed hotel, is an all-year, all-weather destination for both foreign and domestic tourists.