BAGUIO CITY – The Philippine Board of Investments –Department of Trade and Industry (BOI-DTI) last week conducted the 2017 Investment Priorities Plan (IPP) roadshow in the City to inform stakeholders from the Cordillera Region and Cagayan Valley Region the salient features of the new IPP and its implementing guidelines.
Lucita P. Reyes, BOI Board of Governors member, said the IPP is a list of priority investment activities that may be given incentives. With the theme “Scaling Up and Dispersing Opportunities,” the new IPP serves as a blueprint in guiding Filipino and foreign investors in matching their entrepreneurial and financial capacities with the identified opportunities to steer the country’s economic growth to a broader and sustainable path.
The 2017 IPP was approved by President Rodrigo Duterte on February 28, 2017 which became effective on March 18, 2017. It has a three- year validity period and can be reviewed on annual basis.
Reyes explained that the new priority activities under the 2017 IPP include Innovation Drivers to underscore the important role of research and development; Innovation ecosystems and infrastructures in modernizing the economy which includes commercialization of Department of Science and Technology- or government funded R&D; and Inclusive Business models for agribusiness and tourism which fosters income and business opportunities for the poor or low-earners of society by integrating them to the supply chain of medium or large companies.
Under the manufacturing sector, the IPP includes all manufacturing activities including agro-processing since the sector can generate higher employment, income and output multipliers relative to other sectors, she added.
Under strategic services, included are IT and IT-related services geared for the domestic market, digital or technological start ups, telecommunications to make the service more competitive and State of the Art Engineering, procurement, and construction to support infrastructure and manufacturing projects.
Healthcare services now include drug rehabilitation centres to support the President’s program against illegal drugs.
Reyes likewise stressed that under the 2017 IPP, mass housing no longer allows projects located within Metro Manila, and are only based on a price ceiling of Php2 million. It now includes in-City Low-Cost housing for lease to encourage developers to build leasable housing units in nearby areas where people work.
The IPP Roadshow was part of the BOI’s ongoing advocacy to promote the 2017 IPP around the country. BOI already finished conducting IPP Roadshows in Manila, Cebu, Clark and La Union. Legaspi and Tacloban roadshows were conducted simultaneously with Baguio. /JDP/MAWC – PIA CAR