BoI planning consultations on Investment Priorities Plan

THE Board of Investments (BoI) is conducting a series of consultations this week with various stakeholders on the proposed 2017 Investment Priorities Plan (IPP).

In a statement, BoI said that it held a public hearing yesterday in Cebu, adding that it would hold another one on Dec. 7 in both Manila and Mindanao.

This is in aid of the IPP 20172019, a list identifying preferred business activities subject to fiscal and non-fiscal incentives.

“The IPP is structured to be more relevant to the aspirations and current socioeconomic needs of the Filipino people as it lays down a solid foundation for more inclusive growth through innovation and pro-poor business models,” said Trade Secretary and BoI Chairman Ramon M. Lopez in a statement.

“It has considered the Administration’s advocacy to support small enterprises, encouraging their integration to major business networks through innovation-driven growth models, and thus seeks to expand the middle class by raising quality of life of the poor.”

The next IPP is anchored on the government’s 10-point socioeconomic agenda as well as on the AmbisyonNation 2040, BoI said, which essentially point to two sets of goals that the government plans to take on to achieve inclusive growth.

The IPP 2017- 2019 will be released at the end of this year, after the current three-year IPP expires this year.

The findings drawn from the nationwide consultation will later be endorsed by Mr. Lopez to President Rodrigo R. Duterte.

According to BoI, the preferred activities for the 2017 IPP may include manufacturing, agribusiness, services, research and development, technological innovations, infrastructure and logistics, inclusive business projects and climate change-related projects. This list, however, is not yet final.

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 public-private partnership projects.

Reports said this week that the draft of the 2017 IPP identifies nine preferred activities as opposed to the 2014-2016 IPP’s 8-item list. These are manufacturing, agriculture and fishery, strategic services, health care services, including drug rehabilitation, research and development, inclusive business models, and the environment.

When asked to confirm the reports, Trade Undersecretary and BoI Managing Head Ceferino S. Rodolfo did not respond. —