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BOI approves 3-year Investments Priorities Plan

PRIORITIZING. The manufacturing sector is one of the 8 preferred activities of the new 2014-2016 Investment Priorities Plan. File photo from SteelAsia

PRIORITIZING. The manufacturing sector is one of the 8 preferred activities of the new 2014-2016 Investment Priorities Plan.

File photo from SteelAsia

MANILA, Philippines – The Board of Investments (BOI) has approved the general policies and specific guidelines of the 2014-2016 Investments Priorities Plan (IPP).

The IPP is an investment policy tool aimed at building industries through policy interventions and initiatives, not necessarily through incentives. The Plan is built around the theme, "Industry Development for Inclusive Growth."

The IPP is focused on 8 preferred activities. These are Manufacturing, Agribusiness and Fishery, Services, Economic and Low-cost Housing, Hospitals, Energy, Public Infrastructure and Logistics, Public-Private Parternship projects.

The government will put in place new mechanisms of coordination and convergence among relevant government agencies as well as avenues for enhanced cooperation with the private sector.

The IPP puts much weight on the end-of-term objectives and goals of the Philippine Development Plan to ensure continuity, consistency and predictability in the country's investment climate.

The principle of geographical application takes into account the relevance and impact of an economic activity in a particular region, province, or a cluster of local government units (LGUs) to maximize the utilization of incentives.

President Benigno Aquino III issued Memorandum Order No. 74 approving the plan in October of last year. The new IPP is valid for 3 years but is subject to annual review  – Rappler.com