The Board of Investments will hold the public consultation on the Proposed Guidelines of the 2014 Investment Priorities Plan (IPP) on 21 November 2014 at 2:00pm, Hall A, Philippine Trade Training Center, Pasay City.
The consultations are part of the process in crafting general and specific guidelines for the 2014 IPP, which President Benigno S. Aquino III signed into law last October 2014. The 2014 IPP is a tool for industrial development and economic growth and consists of specific economic activities that - based on industry studies, plans and roadmaps - are strategic or critical to advance a particular industry or improve the product’s value chain.
Participants from various chambers of commerce, business support organizations, the academe, LGUs, members of inter-agency committees, NGOs, consumer organizations and the media are expected to attend the consultation to provide insights, inputs and ideas on the substance and content of the proposed guidelines.
The 2014 IPP was prepared through the application of a framework of analysis that includes a set of criteria that identifies priority general or broad economic categories and specific economic activities. After conducting a thorough study of the priority sectors, its subsectors and specific economic activities, and depending on the availability of quality industry roadmaps and studies, the 2014 IPP enumerates the activities the government should incentivize to meet national development goals.
The general objective of the new IPP is to clearly target investment opportunities and needs to fill gaps in the supply or value chain, boost sectors with latent or obvious competitive advantage, and offset market imperfections.
The 2014 IPP has innovative features such as the principle of geographical application. This means that the relevance and impact of an economic activity in a particular region, province, or a cluster of local government units would be taken into consideration to maximize the utilization of incentives by cascading its benefits of incentives to its targeted locality.
Second, the 2014 IPP will be a rolling three-year plan, reviewed annually for effective implementation. This feature ensures continuity, consistency and predictability – factors seriously considered by domestic and foreign investors. Lastly, new mechanisms of coordination and convergence among relevant government agencies will be established to ensure the effective and efficient execution of the 2014 IPP, as well as providing venues for enhanced partnership and cooperation with the private sector.
The following are the preferred lists of activities: Manufacturing, Agribusiness and Fishery, Services, Economic and Low-cost Housing, Hospitals, Energy, Public Infrastructure and Logistics, PPP Projects.(END)