Drug rehab, MSMEs among Duterte admin's 2017 investment priorities
MANILA, Philippines – President Rodrigo Duterte approved the 2017 Investment Priorities Plan (IPP), a plan that encourages investments in key sectors like manufacturing, agriculture and fisheries, drug rehabilitation, and micro, small, and medium enterprises (MSMEs).
Duterte approved the plan through Memorandum Order No. 12 signed on February 28 but released to media on Monday, March 6.
Trade Secretary Ramon Lopez, who is also chairman of the Board of Investments, emphasized "continuity of industrial policy direction" and inclusive economic growth.
The IPP lists the 10 sectors the Duterte administration wants investors to focus on.
These priority investment areas are:
- All qualified manufacturing activities including agro-processing
- Agriculture, fishery, and forestry
- Strategic services, including telecommunications; integrated circuit design; knowledge-based services and tech start-ups; maintenance, repair, and operation of aircraft; charging and refueling of alternative energy vehicles; and industrial waste treatment
- Healthcare services, including drug rehabilitation centers
- Mass housing
- Infrastructure, including transportation infrastructure and projects initiated or implemented by local government units
- Activities that drive innovation, including research and development in areas like agriculture biotechnology, disaster mitigation and prevention, technology for increasing agricultural productivity, and technology for the prevention of disease outbreaks
- Businesses that provide opportunities to micro and small enterprises by including them in their value chains
- Environment- or climate change-related projects
The same document listed the 2017 to 2019 investment priority areas for the Autonomous Region in Muslim Mindanao (ARMM).
Those areas include:
- Agriculture, agribusiness, aquaculture, and fisheries
- Basic industries like production of pharmaceutical products, water supply and treatment, cement production, traditional crafts like boat-building, ice plant and refrigeration, and all types of heavy industries
- Infrastructure and services
- Industrial service facilities
- Engineering industries
- BIMP-EAGA-related investment enterprises based in Brunei; Sabah and Sarawak in Malaysia; Maluku, Sulaweso, Kalimantan, and Irian Java in Indonesia; and Mindanao and Palawan in the Philippines, which do business with ARMM, with the goal of formalizing "peripheral shadow economies"
- Health and education services and facilities
- Halal industry
- Banking and other financial institutions and facilities
Read the complete 2017 Investment Priorities Plan below: