THE Board of Investments (BOI) is now drafting the 2017 Investments Priorities Plan (IPP) which is geared toward providing fiscal support to inclusive business (IB) projects that benefit the micro, small and medium enterprises (MSMEs).
The IPP, which rolls out three-year plan, will be submitted to President Rodrigo Duterte for approval by yearend.
Trade Secretary and BOI Chairman Ramon Lopez said on Friday that the target date of submission is considered a milestone for the agency.
It is a list of priority investment activities that may be given incentives by government. Multi-sectoral consultations and meetings were conducted to ensure that the list is aligned with the goals, priorities and strategies under the President’s 10-point Socio-economic Agenda and the framework on the Comprehensive National Industrial Strategy (CNIS).
In the list of preferred activities for 2017 are: manufacturing, agribusiness, and services as major areas for investments, supported by research and development, technological innovations, infrastructure and logistics. Also proposed for inclusion are environment or climate change-related IB projects.
“The inclusion of IB in the proposed 2017 IPP augurs well with the government’s thrust to reduce poverty, generate more jobs, and sustain inclusive growth,” Lopez said.
As early as March 2016, the BOI had already started the review of the proposed IPP where an IPP Technical Working Group represented by all the BOI Services worked on the policy directions, priorities and timelines.