At the heart of its industry, development policy, and investment promotion initiatives is the BOI IPP, a list of investment priority sectors or preferred investment areas that may be given investment incentives.
President Rodrigo Duterte, through Memorandum Order No. 50, has approved the 2020 Investment Priorities Plan (IPP) which includes qualified activities relating to the Covid-19 pandemic response and the “Balik Probinsya” program.
Under Memorandum Order No.50, the BOI “shall ensure the attainment of and consistency with the State policies under EO No. 226 and the national goals under Republic Act No. 11469 or the ‘Bayanihan to Heal as One Act,’ and Republic Act No. 11494 or the ‘Bayanihan to Recover as One Act.’
The 2020 IPP aims to
• Modernize the Philippine Economy
• Generate Massive Levels of decent jobs across the country
• Help solve societal issues on employment, housing, transportation, safe and secure travel, etc.
The 2020 IPP has a validity of three years (2020-2023) subject to annual review to accommodate any changes.