The Board of Investments – Department of Trade and Industry (BOI-DTI) conducted a total of 12 regional roadshows which started last July 14, 2017. These covered the National Capital Region, Regions IV-A and IV-B at the PTTC, as part of the agency’s advocacy.
Guided by the Administration’s initiative to address inequality, empower the powerless, highlight inclusivity and bring prosperity for all, the BOI-DTI has developed a strategic investment plan for 2017-2019 that is more relevant to the ambition and socio-economic needs of the Filipino people. Aligning with the President’s 0+10-point Socio-economic Agenda and Ambisyon 2040: the long term vision for the Philippines, this IPP lays down the groundwork for a more modern and inclusive economy through an innovative and pro-poor approach. The IPP, as the country’s fundamental investment policy tool, will lead the way in this endeavor starting 2017 as it seeks to scale up small enterprises and disperse opportunities for employment and innovation-driven business models.
Based on the theme “Scaling Up and Dispersing Opportunities”, the 2017 IPP will serve as a blueprint in guiding Filipino and foreign investors in matching their entrepreneurial and financial capacities with the identified opportunities to steer the country’s economic growth to a broader and sustainable path. It aspires to maintain the Philippines’ competencies while developing sectors with potential for inclusive growth by connecting micro, small and medium enterprises (MSMEs) to the global value chain.
The President approved the 2017 IPP on 28 February 2017 which became effective on 18 March 2017. The implementing guidelines that include the General Policies and Specific Guidelines took effect on 18 June 2017 upon publication in the Philippine Star. Similar to its predecessor, the 2017 IPP is a three-year rolling plan to ensure continuity, consistency and predictability. It is subject to annual review for effective implementation.
The new IPP’s coverage has been broadened to encourage and attract new capital in sectors and regions that address the inequality of growth and employment. New priority and activities for the 2017 IPP are: “Innovation Drivers” to underscore the important role of Research and Development, innovation ecosystems and infrastructures in modernizing our economy, which includes commercialization of DOST or Government funded R&D; and opportunities for the poor or low-earners of society by integrating them to the supply chain of medium or large companies.
Other activities have been strategically modified to stimulate a more prosperous and inclusive economic development. Hence, from a select handful of activities under the manufacturing sector the 2017 IPP includes All Manufacturing Activities including Agro-processing, since the sector can generate higher employment, income and output multipliers relative to other sectors. Agriculture, Fishery and Forestry includes the development of forest plantations in private lands and also promotes food irradiation projects to improve the safety and extend the shelf life of our food. Strategic Services includes IT and IT-related services geared for the domestic market, digital or technological startups, telecommunications to make the service more competitive and State of the Art Engineering, Procurement and Construction to support infrastructure and manufacturing projects.
BOI held a Press Conference at the Jade Function Room at Limketkai Luxe Hotel last September 6, 2017. The speakers took in questions from representatives from the press and well-known bloggers in the city.
Follow me!
