BOI unreels SIPP roadshow in bid to draw in investors

THE Board of Investments (BOI), the country’s lead industry development and investments promotion agency (IPA), is conducting a series of roadshows nationwide to discuss the salient features of the Strategic Investment Priority Plan (SIPP).

This is in line with BOI’S objectives of promoting investment opportunities, building connections with the country’s investors, wouldbe investors, and concerned stakeholders, and making more investments happen in the Philippines.

The SIPP, a plan prepared by the BOI in coordination and consultation with the IPAS, the Fiscal Incentives Review Board (FIRB), other government agencies administering tax incentives, and the private sector, lists the priority industries, sectors, and business projects that may qualify for investment incentives under Republic Act No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.

“The SIPP also includes the scope and coverage of location and industry tiers, recommendations for non-fiscal support and other information, analyses, data, guidelines, or criteria as the government may deem appropriate to attract quality investments and generate jobs for Filipinos,” the BOI said in a statement on Monday.

According to BOI, apart from providing information about the priority sectors/industries and investment opportunities under SIPP, the roadshow is also BOI’S in-person public platform to guide investors on how to apply investment projects with the BOI to avail themselves of incentives and likewise provide consultation/advisory services for those who want to understand and access other services of the BOI.

The BOI SIPP roadshow is a one-day event with two parts. For the morning session, investment opportunities under the SIPP and the incentives available for qualified projects will be discussed. Meanwhile, the afternoon session are for oneon-one consultations with the BOI resource persons on potential projects for registration and other investment concerns.

Through the BOI’S Domestic Investments Promotion Service (DIPS) and its Extension Offices, the roadshows will initially be conducted in three key cities: Cebu on July 19, Cagayan de Oro on July 26, and Davao on July 28. More roadshows are to be scheduled in August.

The roadshow eyes firms with previous projects registered with BOI, as well as firms planning to expand their operations in the regions, regional business chambers, regional industry associations and organizations, academe, financial institutions, Department of Trade and Industry (DTI) regional and provincial offices, regional National Economic and Development Authority (Neda) and other regional government offices.

In a statement on Monday, BOI said, “The SIPP serves as a catalyst to shore up various industries and yield more diversified, complex, and sophisticated products and services in the Philippines.”

BOI underscored that the SIPP plays a significant role in the country’s goal of bouncing back from the economic ramifications of the persisting global health crisis. Moreover, the Plan sustains the momentum towards the country’s economic recovery, as it will generate and recover jobs as well as competitively provide for the Filipinos’ basic needs.