August 27, 2010
The Department of Trade and Industry's (DTI) Board of Investments (BOI) will bare the 2010 Philippine Investments Priority Plan (IPP) during an orientation seminar to be held on September 10, 8:00am - 5:00pm at the Crown Regency Hotel,
The preferred areas of investments are agriculture/agribusiness and fishery; infrastructure; manufactured products; business process outsourcing (BPO); creative industries; strategic activities; green projects; disaster prevention, mitigation and recovery projects; research and development and innovation.
The IPP also specifies incentives that industries in their respective categories could avail
Incentives are in the form of income tax holidays and tax exemptions; additional deduction for labor expense; duty-free importation of capital equipment (pursuant to E.O. 528); tax & duty-free importation of spare parts and supplies for CBMW operators; tax credit on domestic breeding and genetic materials and raw materials & supplies; exemption from wharfage dues; additional deduction from major infrastructure works located in LDAs; employment of foreign nationals; zero-rated value-added tax; and unrestricted use/importation of consigned equipment.
Agriculture/agribusiness and fishery covers production and processing of agricultural and fishery products including their by-products and wastes, biofuels, feeds and fertilizers.
Infrastructure covers air, water and mass rail transport, water supply and distribution, logistics, energy and power generation projects, waste management facilities, mass housing, physical infrastructure, pipeline projects for oil and gas, and projects under the build-operate-transfer (BOT) law.
Manufactured products covers shipbuilding and manufacture of machinery and equipment including parts and components; other transport equipment for air, water and land; cement, modular housing components for mass housing projects; iron and steel products; and chemical compounds and biological substances other than food intended for use in the treatment, prevention or diagnosis of diseases in humans or animals.
Business process outsourcing covers the voice and non-voice services enabled by information technology (IT) including procurement and sourcing services.
Creative industries covers non-BPO, IT-enabled services and film, TV and theater arts production.
Strategic activities are projects that exhibit high social and economic returns and require large investments that will significantly contribute to the country's economic development taking into consideration the amount of investments, the employment it generates, and the use of new, emerging, and technologically advanced products or services involving breakthrough processes and innovation.
Green projects covers the production of goods the utilization of which would lead to either the efficient use of energy, natural resources and raw materials, or minimize or prevent pollution or environmental degradation; systems and processes that would involve the application of cleaner and more efficient technologies on carbon and other greenhouse gases emission reduction.
Disaster prevention, mitigation and recovery projects are those that will prevent or mitigate adverse impacts of calamities and disasters. Examples of these are installation of dikes and flood control systems; early warning systems for typhoons, earthquake occurrences, tsunami, and volcanic eruptions; and including training for disaster preparedness, mitigation or recovery, rehabilitation and reconstruction.
Research and development and innovation projects are those commercial and in-house R&D activities, establishments of centers of excellence (COE), innovation, and skills development training institutions.
Besides the priority or preferred areas or activities, the 2010 IPP also contains mandatory list of activities that require their inclusion in the IPP as provided for under existing laws.
Included are those covering extensive plantation of forest land of tree crops (Revised Forestry Code of the Philippines); exploration and development of mineral resources, mining and other allied activities (Philippine Mining Act); establishment of waste recycling facilities (Ecological Waste Management Act of 2000); establishment of industrial wastewater and sewage water treatment facilities (Philippine Clean Water Act of 2004); tourism enterprises (Tourism Act of 2009); and including manufacture of export products, export services and activities in support of exporters under the Export Activities, among others.
The BOI is currently doing orientation seminars on the 2010 IPP in key cities in the
For more details on the Cebu IPP orientation, please call DTI-Cebu at 412-1863 and 253-2631 local 18.
The orientation seminar, part of BOI's roadshow for the IPP around the country, will be attended by representatives of the public and private sector: local government and line agencies, the business sector and the academe from the Visayas.
Under the Omnibus Investment Code of 1987, the BOI is responsible for the regulation and promotion of investments in the
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