SUMMARY
This is AI generated summarization, which may have errors. For context, always refer to the full article.
MANILA, Philippines – President Benigno Aquino III approved on Friday, November 21, the 2014 Investment Priorities Plan (IPP), which aims to grow the country’s local industries.
In a statement, Communications Secretary Herminio Coloma Jr said the IPP, endorsed by the Department of Trade and Industry (DTI), would accomplish its goal “through incentives but through other policy intervention and initiatives, pursuant to the government’s goal of promoting inclusive growth.”
The preferred activities of the IPP are manufacturing, agribusiness, fishery, service, and public infrastructure, and logistics. The 4 specific activities of focus are energy, housing, hospitals, and public-private partnership projects.
The IPP also contains export activities and the ARMM List, “which encompasses priority investment areas that have been determined by the Regional Board of Investments of the ARMM” or Autonomous Region in Muslim Mindanao.
“The 2014 IPP also provides focused sectoral analysis with identification of specific sub-sectors that are key to industrialization and sustainable growth. In addition to channeling investments in the country’s least developed areas, the proposed 2014 IPP also factors in geographic needs and plans as well as industry clustering strategies in promoting investments,” he said.
The President also signed the Memorandum Order 74, “which enjoins all government agencies to issue the necessary regulations to ensure the ‘synchronized and integrated’ implementation of the IPP.” – Rappler.com
Add a comment
How does this make you feel?
There are no comments yet. Add your comment to start the conversation.