TRO on P10Bn Palawan project drives investor away

Categories: Business Updates

Date Posted: 22 Apr 2014

An affiliate company of the Manila Ocean Park at Rizal Park backed out from its plan to put up a P10-billion resort hotel in Coron, Palawan after the National Commission on Indigenous Peoples (NCIP) issued a temporary restraining order when construction had already started. “This action of NCIP is detrimental to tourism development,” Lim Chee Yong, one of the directors of Correos Internacionale Inc. Lamented. NCIP is an agency under the Office of the President. In a separate but related case, where businessman Orlando Sacay accused the NCIP of what he termed as “legalized extortion,” NCIP regional director Roberto Almonte denied such allegations.