The Philippine Board of Investments (BOI) has announced a series of public consultations for the Draft 2025 Strategic Investment Priority Plan (SIPP).
These consultations are scheduled to occur in three key locations: Quezon City on 31 January 2025, Mandaue City on 5 February 2025, and Davao on 7 February 2025.
The SIPP outlines activities eligible for tax incentives under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act and is reviewed every three years. The CREATE Act offers incentives to boost the Philippines’ economy.
The draft SIPP outlines three tiers of priority investment activities, each categorised as follows:
- Tier I: Focused on activities addressing modern basic needs and service sectors, as well as manufacturing and industries driven by sustainability.
- Tier II: This is dedicated to activities related to defence, improving the shortcomings in the industrial value chain, and food security-related activities.
- Tier III: Centered on innovation-focused initiatives and facilities that support innovation.
The draft SIPP outlines key export-related activities, including the production and manufacturing of export goods, the provision of export services, and activities that provide support to exporters.
The draft SIPP also outlines area or region-specific priority activities like the Bangsamoro autonomous region in Muslim Mindanao (BARMM). These include various activities, including the development of the halal industry from the production stage to value-added processes, halal tourism, the regulation and management of Islamic banks, Islamic financing, as well as agriculture and agribusiness.
Furthermore, this also includes value chain, value-adding, supply chain agribusiness activities, aquaculture, fisheries, aquamarine industries, and logistics services within the ecozones in BARMM.
