MANILA—The 2017 Investment Priorities Plan (IPP) will be enforced on March 18 after President Rodrigo Duterte approved the IPP through Memorandum Order No. 12 last week.
The IPP is a list of investment activities identified by the government for fiscal and non-fiscal incentives.
The new IPP has a theme of “Scaling Up and Dispersing Opportunities”, reflecting the administration’s 10-point economic agenda and supporting the goal of Philippine Development Plan 2017-2020 and the aspirations of the AmbisyonNatin 2040.
Included in the IPP list are innovation-driven and job-intensive economic activities such as inclusive business for agribusiness and tourism; manufacturing; information technology and IT-related services for the domestic market and telecommunications services for new market players; environment and climate change-related projects; local government unit-initiated public-private partnership projects; drug rehabilitation centers; state-of-the-art engineering, procurement and construction services; and the lifting of geographical restrictions for most agriculture and tourist accommodation facilities.
In a statement on Monday, the Board of Investments (BOI) confirmed that President Duterte had approved the 2017 IPP as proposed by the agency.
“This development is concrete proof of the administration’s decisiveness to further propel the growth of investments and job generation in the country and attain sustainable economic growth,” Trade Secretary and BOI Chairman Ramon Lopez said.
Meanwhile, the BOI will conduct IPP Roadshow in key cities nationwide to inform stakeholders on the opportunities of the new IPP.
Last year, the BOI approved Php 442-billion worth of investment, an increase of 21 percent from 2015’s investment approval of Php 367 billion.