Aimed at promoting investment opportunities, build connection with the country’s investors, would-be investors, and concerned stakeholders, and make more investments happen in the Philippines, the Board of Investments (BOI), the country’s lead industry development and investments promotion agency (IPA), is conducting its series of roadshows nationwide on the salient features and highlights of the Strategic Investments Priority Plan (SIPP).
Through the BOI’s Domestic Investments Promotion Service (DIPS) and its Extension Offices, the roadshows will initially be conducted in three key cities: Cebu on July 19, Cagayan de Oro on July 26, and Davao on July 28. More roadshows are set to be scheduled next month.
The SIPP, a plan prepared by the BOI in coordination and consultation with the IPAs, the Fiscal Incentives and Review Board (FIRB), other government agencies administering tax incentives, and the private sector, lists the priority industries, sectors, and business projects that may qualify for investment incentives under Republic Act No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.
The SIPP includes the scope and coverage of the priority activities and the industry tier categorization which influences the period of availment for incentives. The higher the industry Tier categorization the longer the period of incentives availment.
Apart from primarily providing information about the priority sectors/industries and investment opportunities under SIPP, the roadshow is also BOI’s in-person public platform to guide investors on how to apply investment projects with the BOI to avail incentives and likewise provide consultation/advisory services for those who want to understand and avail the other services of the BOI.
The BOI SIPP roadshow is a one-day event with two parts. For the morning session, investments opportunities under the SIPP and the incentives available for qualified projects will be discussed. The afternoon session meanwhile will be for one-on-one consultations with the BOI resource persons on potential projects for registration and other investments concerns.
The roadshow targets firms with previous projects registered with BOI as well as firms who are planning to expand their operations in the regions, regional business chambers, regional industry associations and organizations, academe, financial institutions, Department of Trade and Industry (DTI) regional and provincial offices, regional National Economic Development Authority (NEDA), and other regional government offices.
The SIPP serves as a catalyst to shore up various industries and yield more diversified, complex, and sophisticated products and services in the Philippines. The SIPP plays a significant role in the country’s goal of bouncing back from the economic ramifications brought about by the persisting global health crisis. The Plan also sustains the momentum towards the country’s economic recovery, as it will generate and recover jobs as well as competitively provide for the Filipinos’ basic needs.
For more information on the SIPP, visit the BOI website: Strategic Investment Priority Plan | Board of Investments (boi.gov.ph) END