Posts tagged nayong pilipino

The initial phase of the project site will be an area of approximately 40 hectares of reclaimed land along Manila Bay in Parañaque City. Other locations in this vicinity as may be approved by PAGCOR will also qualify.

Bagong Nayong Pilipino Entertainment City Manila project will have the following contributions toward national economic development:

- Boost tourism and increase influx of tourists. It is estimated that more than a million additional tourists per year can be attracted as a result of this project.

- Employment generation will be substantial. Direct employees of the hotel entertainment complex upon full operation will exceed 40,000 Filipinos, all of whom will be at income levels at par with other hotel casino complexes in the region, and salaries of whom shall be in United States Dollars (USD). In addition to the direct employment, indirect employment of support operations could amount to 150,000 additional jobs.

- Increased earnings for the national government. It is expected that the project could generate gross revenues of several billion US$ per year upon full implementation and could triple the present annual income generation of PAGCOR from US$500 million to US$1.5 billion, thus dramatically increasing the income of the National Government to whom all PAGCOR revenues accrue.