Senior Superintendent Romeo Pagalilaoan, deputy regional police director for operations, said Editha Chua, 45, was snatched in front of their house in Barangay Ugak Norte this city Monday night.
Chuas family owns a chain of department stores in this city. Her husband, Vicente, is also a well-known businessman.
Witnesses said Chuas kidnappers, brandishing long and short firearms and wearing fatigue uniforms, dragged Chua into a Toyota Corolla but later transferred her to a Mitsubishi Adventure.
The witnesses, Pagalilaoan said, reported the abduction to the city police which, in turn, sent an alarm to police stations in Quezon and Mallig towns.
The kidnappers, however, were able to pass through police barricades in both towns.
Pursuing lawmen found the Mitsubishi Adventure in Barangay Doña Concia in Roxas town. Inside the vehicle was Chua, her hands tied and her mouth covered with masking tape.