BOI finalizing draft of ‘14 IPP

MANILA, Philippines - The Board of Investments (BOI) is finalizing the draft of the 2014 Investments Priorities Plan (IPP), which lists seven sectors as preferred activities that can qualify for incentives from the government.

“We are finalizing the draft IPP,” Trade undersecretary Adrian Cristobal Jr. told reporters, noting that the seven sectors previously presented during consultations held for the draft will be part of the list to be submitted to President Aquino.

The seven sectors listed as preferred activities in the preliminary 2014 IPP presented in consultations earlier are manufacturing; agribusiness and fishery; services; economic and low-cost housing (horizontal and vertical developments); energy; public infrastructure and logistics; and Public Private Partnership projects.

The preliminary 2014 IPP presented during consultations likewise listed production and manufacture of export products, services exports and activities in support of exporters as activities that can qualify for incentives.

Also included in the preliminary 2014 IPP are special laws covering industrial tree plantation; mining (limited to capital equipment incentive); publication or printing of books or textbooks; refining, storage, marketing and distribution of petroleum products; rehabilitation, self-development and self-reliance of persons with disability; renewable energy and tourism.

The 2013 IPP being used at present, has a longer list of preferred activities covering the following:  agriculture or agribusiness and fishery; creative industries or knowledge-based services; shipbuilding; mass housing; iron and steel; energy; infrastructure; research and development; green projects; motor vehicles; strategic projects; hospital or medical services; and disaster prevention, mitigation and recovery projects.

Aside from the lists of preferred activities and mandatory activities or those which must be given incentives as provided by existing laws, it also covers export activities as well as those identified as priorities by the Regional BOI of the Autonomous Region in Muslim Mindanao.

Cristobal said the agency is currently working on the presentation and wording of the proposed 2014 IPP.