March 6, 2017
President Rodrigo Duterte has approved the 2017 Investment Priorities Plan, which will serve as guide for the government agencies in implementing their programs and projects.
Memorandum Order No. 12 signed on February 28 said the chairman of the Board of Investments shall render an annual report to the President on the accomplishments and implementation of the IPP.
"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 Order read.
It further stated that no government body shall adopt any policy or take any course of action contrary to, or inconsistent with, the IPP.
In the foreword of the IPP, Trade and Industry Secretary and chairman of the BOI Ramon M. Lopez said with the theme "Scaling Up and Disbursing Opportunities," the new IPP reflects the administration's desire to see economic growth spread to a broader segment of the population.
The BOI has identified 10 preferred activities for investments, he said, citing the list "significantly differs" from the 2014 IPP with the inclusion of more micro, small and medium enterprises (MSME) oriented, innovation-driven, health and environment conscious activities that look at expanding job opportunities for more segments of the population and bringing more firms into the local and global value chains.
He also said there is a "deliberate policy" to shift investments to the countryside.
The new priority investment areas under the new IPP have been categorized into preferred activities, export activities, activities based on special laws granting incentives, and Autonomous Region in Muslim Mindanao List.
Preferred activities specifically cover all qualified manufacturing including agri-processing, agriculture, fishery and forestry; strategic services; infrastructure and logistics including local government units-public private partnership; health care services including drug rehabilitation; mass housing; inclusive business models; environment and climate change; innovation drivers; and energy.
The government came out with the 2017 IPP following consultations with different sectors. Celerina Monte/DMS
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