Board of In­vest­ments re­leases draft rules for In­vest­ment Pri­or­i­ties Plan

Business World - - THE ECONOMY - By Imee Charlee C. Delavin Se­nior Re­porter

THE BOARD of In­vest­ments (BoI) has re­leased the draft guide­lines for im­ple­ment­ing the 2017 In­vest­ments Pri­or­i­ties Plan (IPP) which serves as the blue­print for ac­tiv­i­ties en­ti­tled to in­cen­tives from the gov­ern­ment.

The BoI said in a state­ment that it com­pleted the pro­posed gen­eral poli­cies and spe­cific guide­lines to im­ple­ment the 2017 IPP this year an­chored on the gov­ern­ment’s 10-point so­cioe­co­nomic agenda as well as on the Am­bisy­onNatin 2040, which es­sen­tially point to two sets of goals that the gov­ern­ment plans to take on to achieve in­clu­sive growth.

Pres­i­dent Ro­drigo R. Duterte signed the plan on Feb. 28 un­der Me­moran­dum Or­der No. 12 which di­rected all agen­cies to is­sue the nec­es­sary reg­u­la­tions to en­sure the IPP’s im­ple­men­ta­tion in a “syn­chro­nized and in­te­grated man­ner.” The BoI opened the IPP draft for com­ment from stake­hold­ers un­til April 21.

Un­der the draft guide­lines the 2017 IPP is a rolling three-year plan to en­sure pol­icy con­ti­nu­ity and con­sis­tency for both do­mes­tic and for­eign in­vestors.

While the IPP would be valid for three years, ac­cord­ing to the BoI, it will be re­viewed an­nu­ally.

The pro­posed gen­eral poli­cies and spe­cific guide­lines for im­ple­ment­ing the

2017 IPP list the fol­low­ing as pre­ferred ac­tiv­i­ties: • all qual­i­fied man­u­fac­tur­ing ac­tiv­i­ties

in­clud­ing agri-pro­cess­ing; • agri­cul­ture, fish­ery, and forestry; • strate­gic ser­vices; • telecom­mu­ni­ca­tions; • health care ser­vices in­clud­ing drug re­ha­bil­i­ta­tion cen­ters; • mass hous­ing; • in­fra­struc­ture and lo­gis­tics in­clud­ing

lo­cal gov­ern­ment unit pub­lic-pri­vate part­ner­ships; • in­no­va­tion driv­ers; • in­clu­sive busi­ness mod­els; • en­vi­ron­ment or cli­mate change-re­lated projects; • en­ergy. Also deemed pri­or­i­ties are:

• ex­port ac­tiv­i­ties in­clud­ing pro­duc­tion and man­u­fac­ture of ex­port prod­ucts; ser­vices ex­ports; and ac­tiv­i­ties in sup­port of ex­porters;

• ac­tiv­i­ties based on spe­cial laws that grant in­cen­tives like in­dus­trial tree plan­ta­tions un­der the In­dus­trial For­est Plan­ta­tion (IFP) based on DENR Ad­min­is­tra­tive Or­der No. 1999-53; ex­plo­ration, min­ing, quar­ry­ing

and pro­cess­ing of min­er­als un­der Re­pub­lic Act (RA) No. 7942 or the Philip­pine Min­ing Act of 1995; pub­li­ca­tion or print­ing of books/ text­books (RA 8047); re­fin­ing, stor­age,

mar­ket­ing, and distribution of petroleum prod­ucts (RA 8479); RA 9513 or the Re­new­able En­ergy Act of 2008 and RA 9593 or the Tourism Act of 2009, among others.

The fi­nal guide­lines will be sub­mit­ted for con­sid­er­a­tion and ap­proval by the BoI Board of Gov­er­nors on April 26.

In the IPP 2014-2016 guide­lines, the pre­ferred busi­nesses were man­u­fac­tur­ing, agribusi­ness and fish­ery, ser­vices, eco­nomic and low-cost hous­ing, hospitals, en­ergy, pub­lic in­fra­struc­ture and lo­gis­tics, and pub­licpri­vate part­ner­ship projects.

The draft rules re­duce the price ceil­ing for BoI-reg­is­tered mass hous­ing units to P2 mil­lion from P3 mil­lion pre­vi­ously. And — ex­cept for in-city low-cost hous­ing for lease — only projects lo­cated out­side Metro Manila may qual­ify for in­vest­ment perks.

“Based on the theme “Scal­ing Up and Dis­pers­ing Op­por­tu­ni­ties,” this IPP will serve as a blue­print in guid­ing Filipino and for­eign in­vestors in match­ing their en­tre­pre­neur­ial and fi­nan­cial ca­pac­i­ties with the op­por­tu­ni­ties iden­ti­fied here­with to steer the coun­try’s eco­nomic growth to a broader and sus­tain­able path,” the prefa­tory state­ment of the draft read.

BoI noted that the 2017 IPP brings forth ‘sig­nif­i­cant ad­di­tions and changes,’ fol­low­ing the Pres­i­dent’s thrust on zero+10-point So­cioe­co­nomic Agenda, the as­pi­ra­tions embodied in Am­Bisy­onNatin 2040, and the Philip­pine Devel­op­ment Plan (PDP) 2017-2022.

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