THE Board of Investments (BoI) has set a target of submitting the 2025-2028 Strategic Investment Promotion Plan (SIPP) to the Office of the President by the third quarter.
“It is scheduled for the Fiscal Incentives Review Board (FIRB) presentation on July 16,” said BoI Investment Policy and Planning Service Director Sandra Marie S. Recolizado said via Viber.
“If approved by the FIRB, it will still have to be approved by the BoI board and then submitted to the Office of the President,” she added.
The updated SIPP is set to rationalize the sector and tier list, with the aim of including projects that have a high impact on job creation, value creation, and moving up the value chain.
According to the BoI, the P3.38 trillion worth of investments approved under the SIPP from June 2022 to December 2024 are expected to generate 132,000 jobs.
“A substantial portion of the projected employment will be in administrative and support services, power, and manufacturing sectors,” BoI said in a statement over the weekend.
Power accounted for 76.33% of approved investments under SIPP, followed by information and communication, transport and storage, and mining and quarrying.
“These investments translate into tangible benefits by providing livelihoods and strengthening the country’s economic resilience,” Trade Secretary and BoI Chairman Ma. Cristina A. Roque said.
“As we work to attract strategic projects, our focus remains on translating these into real opportunities for our people,” she added.
BoI Managing Head Ceferino S. Rodolfo said the SIPP positions the Philippines as a hub for innovation and green growth.
“We are committed to ensuring that these investments drive not only economic gains but also inclusive development,” he said.
“Moving forward, the DTI is working closely with investment promotion agencies, the FIRB, other government agencies, and private sector stakeholders to ensure that the next SIPP reflects evolving national priorities and global economic trends,” the BoI said. — Justine Irish D. Tabile