The Board of Investments approved two new hotel projects under the tourism and export activity components of the Investments Priorities Plan.
Approved were the P62.4-million Casa Coco Hotel project of Altipeak Land Development Inc. and the P29.1-million Eco Container Hotel of Ecohotels Inc.
The Tourism Department endorsed the accommodation projects for approval after they met the minimum requirements of a three-star hotel. The 30-room Casa Coco Hotel is located in San Juan, Siquijor while the 33-room Eco Container Hotel is in Tagaytay City.
The BoI also approved an P18-million eel farming project of Oceans Ace Philippines Export Import Corp. The farm in Hindang, Leyte will have a capacity to culture up to 2,187,911 pieces annually and export them to Japan and Korea. Commercial operation is expected to start in May 2017 with 25 workers manning the facility.