President Benigno S. Aquino III on Tuesday reassured stakeholders of the energy sector that the government move to ask Congress...
The Board of Investments (BOI) recently held the Inter-Agency Consultative Meeting on the Proposed 2013 Investment Priorities Plan (IPP).
The crafting of the IPP is a widely accepted process that involves nationwide public and inter-agency consultations. The IPP is the country’s blueprint for investment promotions and a platform to attract strategic investments with impact, particularly in countryside development as well as in generating employment.
Under the Omnibus Investments Code or EO 266, the BOI is mandated to encourage investments through tax exemption and other benefits in the preferred economic activities specified in the IPP. These economic activities are aligned with the Philippine Development Plan (PDP).
During the consultations, the IPP is also examined in terms of value for incentives – their contribution to employment, product mix, and other aspects of industry development and social goals.
The IPP will also be the basis for the policy reforms that the government needs to implement to achieve economic development. The comprehensive industry strategy of the Philippines, an initiative of the DTI-BOI, will also complement the IPP.
The 2012 IPP listed preferred activities as follows: agriculture/agribusiness and fishery, creative industries/knowledge-based services, shipbuilding, mass housing, energy, infrastructure, research & development, green projects, motor vehicles, strategic projects, PPP projects, and disaster prevention, mitigation and recovery projects.
Under the existing laws, mandatory IPP activities are industrial tree plantation; exploration, mining, quarrying and processing of minerals; publication of printing of books/textbooks; refining, storage, marketing and distribution of petroleum products; ecological solid waste management; clean water projects; rehabilitation, self development & self reliance of persons with disability; and renewable energy.
The BOI has requested the concerned agencies to submit their comments and position papers on the proposed 2013 IPP not later than 25 February 2013. Regional consultations through the conduct of public hearings on the proposed 2013 IPP General Policies and Specific Guidelines are tentatively scheduled on February 28 to be simultaneously held in the cities of Manila, Cebu, and Davao.
The inter-agency consultative meeting was held at the Philippine Trade and Training Center on 07 February with participants from the Departments of Transportation and Communications (DOTC), Health (DOH), Science and Technology (DOST), Energy (DOE), Labor and Employment (DOLE), Finance (DOF), Tourism (DOT), Agriculture (DA), the National Economic and Development Authority (NEDA), Commission on Higher Education (CHED), among others.