MANILA, Philippines - The Board of Investments (BOI) will issue the guidelines for the Investment Priorities Plan (IPP) for 2014 to 2016 following the publication of the EO implementing the plan.
“There has been thorough discussion on these guidelines…As soon as the EO (for the IPP) is published, the guidelines will follow,” BOI managing head Adrian Cristobal Jr. told reporters.
The IPP which provides a list of sectors being promoted by the government and entitled to incentives, was approved by President Aquino in October.
Under EO 226 or the Omnibus Investments Code, the BOI is required to formulate the IPP annually, in consultation with other government agencies, the private sector and other stakeholders.
The new IPP will be valid for three years but subject to annual review.
The latest IPP lists the following as preferred activities: manufacturing (motor vehicles,parts and components, body stamping as well as motor and batteries for electric vehicles), agribusiness and fishery, services, economic and low-cost housing, hospitals, energy, public infrastructure and logistics, and Public-Private Partnership Projects.
Last year’s IPP had 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.
While the 2014 IPP’s list of preferred activities has been trimmed, it retained the previous year’s export activities list as well as the list of special laws.
Export activities cover the manufacture of export products, services exports and activities in support of exporters.
The list of special laws consists of industrial tree plantation; exploration, mining, quarrying and processing of minerals; 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 new IPP will also offer incentives for registered enterprises that adopt the inclusive business model which involves integrating low-income groups to the business as producers, distributors or employees in order to make a profit.