PRESIDENT Rodrigo Duterte has approved the 2017 Investment Priorities Plan (IPP) or the list of priority investment activities that may be given incentives by the government.
In memorandum 12 signed by Executive Secretary Salvador Medialdea on behalf of Duterte, all government agencies are mandated to regulate the implementation of IPP, which is aimed at sustaining inclusive growth and generating more jobs in the country.
"Upon effectivity of the IPP, all government agencies and entities are enjoined to issue the necessary regulations to ensure its implementation in a synchronized and integrated manner," the memorandum read.
"No government body shall adopt any policy or take any course of action contrary to, or inconsistent with the IPP," it added.
The IPP, which is formulated by the Philippine Board of Investments (BOI), is aligned with the goals, priorities and strategies under Duterte's 10-point socioeconomic agenda and the framework on the Comprehensive National Industrial Strategy.
The memorandum tasked the BOI chairman to render an annual report to the President on the accomplishments and implementation of the IPP.
The preferred activities for IPP, which will be rolled our for three years, include manufacturing activities including agri-processing, agriculture and fisher; strategic services; infrastructure and logistics including public-private partnership participated by local government units; innovation services; inclusive business models; and environment or climate change-related projects.
Under IPP, mass housing units amounting to P2 million will no longer be eligible for BOI incentives. Price ceiling of house units must be maintained at P3 million. (VoxPop Philippines)
