The Board of Investments (BOI) is set to endorse the proposed 2013 Investment Priorities Plan (IPP) to President Benigno S. Aquino III.
The BOI spearheads the inter-agency efforts to annually craft the IPP. The IPP is the country's blueprint for investment promotions and a platform to attract strategic investments with impact on countryside development and employment generation.
The formulation of the IPP includes the conduct of nationwide public consultations. This year, the BOI held simultaneous public consultations in the cities of Angeles, Manila, Cebu, and Davao. The consultations were attended by members of various chambers of commerce, the academe, local government units (LGUs), the members of the inter-agency committees, non-government organizations (NGOs) and consumer organizations.
The 2013 IPP has the same priority areas as the 2012 IPP with improvements based on consultations with stakeholders. The proposed 2013 IPP roster includes Agriculture/Agribusiness and Fishery, Creative Industries/Knowledge-Based Services, Shipbuilding, Mass Housing, Iron and Steel, Energy, Infrastructure, Research and Development, Green Projects, Motor Vehicles, Strategic Projects, Hospital/Medical Services, Disaster Prevention, and Mitigation and Recovery Projects.
Unlike the 2012 IPP, incentives in the 2013 IPP will be limited to zero duty on any importation of capital equipment, spare parts and accessories by BOI-registered mining enterprises.
Likewise, the 2013 IPP adopted terminologies consistent with the Department of Health (DOH) Administrative Order No. (AO) 2012-0012 for hospitals and health facilities. The proposed IPP transferred health and medical-related activities from the Tourism sector to Hospital/Medical Services sector for a more focused classification.
Meanwhile, the BOI is already preparing for the 2014 IPP. The agency is currently undertaking studies, in partnership with the private sector in the development of the country’s industry roadmaps to support the formulation of the 2014 IPP. (END)
Source: DTI Public Relations Office