MikeLigalig.com

The local investment board has granted a five-year tax holiday to Bacolod Big Joc Realty and Management Corp. for its P60-million investments in the hotel and restaurant business in the city.

The Certificate of Exemption was awarded by Mayor Evelio Leonardia to the company owned by Johnny Chua, whose investments include the East View Hotel and Blue Grass Café, Bar and Grill situated at corners of Pag-asa and the circumferential road in Barangay Villamonte.

“This is another concrete proof how business-friendly Bacolod City is…an indication that the city now is having an economic boom,” said Leonardia.

Leonardia said that the P60 million investments could bring employment for many Bacoleños.

Chua said that instead of putting business in other places, he decided to invest in this city “to promote and create jobs and help the economy of Bacolod.”

Bacolod Business Development and Promotion Center head Ardis A. Jaculina said that the hotel and restaurant is entitled to a business tax holiday for five years.

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