Davao City, Region XI—The Philippine Board of Investments (BOI), the industry development and investments promotion arm of the Department of Trade & Industry (DTI), gathered in a forum last September 21, 2017 stakeholders in Southern Mindanao to present and discuss the salient features of the 2017 Investment Priorities Plan (IPP).
The IPP is a list of priority investment activities that may be given incentives by the BOI. With the theme “Scaling Up and Dispersing Opportunities,” the 2017 IPP brings forth significant additions and changes, following the President’s Zero + 10-point Socio Economic Agenda, the aspirations embodied in Ambisyon Natin 20140, and the Philippine Development Plan 2017-2022.
“The new IPP serves as blueprint in guiding local 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. It aspires to maintain the Philippines’ competencies while developing sectors with potential for inclusive growth by connecting micro, small and medium enterprises (MSMEs) to the global value chain,” said BOI Governor Lucita Reyes who presented the IPP before Davao Region stakeholders.
Governor Reyes encouraged the stakeholders to take advantage of the new IPP that was designed to be more responsive to the needs of the present time which, she said, is now more inclusive and innovation-led.
|Photo shows Governor Reyes with Mr. Christian Cambaya (middle), Head of Investors Assistance Unit of the Davao City Investments Promotion Center and DTI Provincial Director for Davao del Sur Dr. Delia Ayano (right) who provided the keynote message and welcomed the attendees of the event.|
The new IPP has a broadened coverage to encourage and attract new capital in sectors and regions and address the inequality of growth and employment. New priority activities for the 2017 IPP are: Innovation Drivers, to underscore the important role of research and development, innovation ecosystems and infrastructures in modernizing our economy, which includes commercialization of Department of Science and Technology or government-funded research and development; 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 into the supply chain of medium or large companies.
Other activities were strategically modified to stimulate a more prosperous and inclusive economic development. From a select handful of activities under the manufacturing sector, the 2017 IPP includes all manufacturing activities including agro-processing, since the sector can generate higher
employment, income and output multipliers relative to other sectors.
Agriculture, fishery, and forestry includes the development of forest plantations in private lands and also promotes food irradiation projects to improve the safety and extend the shelf life of our food.
Strategic Services includes IT and IT-related services geared for the domestic market, digital or technological startups, telecommunications to make the service more competitive, and state-ofthe-art engineering, procurement, and construction to support infrastructure and manufacturing
projects. Healthcare services now includes Drug Rehabilitation Centers to support the President’s program against illegal drugs.
Mass Housing no longer allows projects located within Metro Manila, and are only based on a price ceiling of Php2 Million. However, it now includes in-city Low-cost housing for lease to encourage developers to build leasable housing units nearby areas where people work.
Infrastructure and Logistics were also integrated with PPP Projects that also includes projects initiated by LGUs to encourage infrastructure development in the local level.
Other inclusions under this sector are: overseas shipping, pipeline for oil and gas, training/learning facilities, testing laboratories, domestic industrial zones, and tollways. Environment or climate change-related projects encourages investments on manufacturing products or establishing
facilities that would lead to the efficient use of energy, raw materials, or minimize pollution. It includes green ship recycling and the establishment of privately owned materials recovery facilities. Energy has been included to support the power requirements for the rapid economic development of the country.