Orlando Sacay, chairman of the Boracay Foundation Inc., said potential investors would shy away from further developing Boracay if the government persists on the reclassification.
Sacay said the government, through the Department of Environment and Natural Resources (DENR), is misleading the public in its claims that Boracay would remain a prime tourist spot despite being reclassified.
"If there is any single act of government that will totally discourage investors to develop the tourism industry in Boracay, it is to inject uncertainty in the legitimacy of their ownership to the land they possess," he said.
Sacay led several businessmen and resort owners in filing a petition before the Supreme Court seeking the recall of PP 1064 which reclassifies the 628 hectares, or 60.94 percent of the 1,032-hectare island resort, as "alienable and disposable."
They argued the proclamation had introduced an element of risk for land owners and the general business climate in Boracay.
"It (PP 1064) introduces an element of risk that major investors will not assume. After investors have put in all the investment and developed a thriving business, the government comes around and claims ownership to their land. Who will want to invest in this case?" Sacay asked.
Nanette Aguirre-Graf, owner of The Boracay Beach Resort, noted the government’s sudden interest in the island-paradise now that business has boomed in Boracay.
She revealed the government never helped them when they were just starting out, but are now trying to make them squat on their lands. — With Helen Flores