DTI-BOI Conducts IPP Orientation Workshop in Cebu

The Board of Investments (BOI) of the Department of Trade and Industry in coordination with the DTI-Central Visayas, NERBAC-Region VII and Cebu Provincial Office held an Orientation Seminar on the 2010 Philippine Investment Priorities Plan (IPP) last September 20 at the Crown Regency Hotel, Cebu City.

The 2010 Investment Priorities Plan provides a platform to maximize opportunities as well as benefits from the implementation of free trade agreements.

Recognizing that the effects of the global economic crisis still linger, the government has retained the contingency list, which is a temporary inclusion in the 2010 IPP to assist existing enterprises recover from the global crisis aftermath and also to cover new projects of micro and small enterprises.

Further, the 2010 IPP promotes a sustainable economic model that allows for growth, job creation and environmental protection.

Embracing an approach that is both green and economically successful, the government provides support to the private sector initiatives on green gas emissions reduction and disaster risk management.

The 2010 IPP identified priority areas that can provide the greatest push for the country to attract more investments and generate jobs. 
These priority investment areas include the regular list containing nine priority investment areas that were identified to support the current priority programs of government; the export activities which includes manufacture of export products, export services and activities in support of exporters; the mandatory list which now includes the recently passed R.A. no 9593 or the Tourism Act of 2009 that covers all areas/ activities where the inclusion in the IPP and/or the grant of incentives under EO226 is mandated by law; the ARMM list which covers priority investment areas that have been determined by the Regional Board of Investments of the Autonomous Region of Muslim Mindanao in accordance with EO 458.  The economic activities listed in the ARMM shall be entitled to incentives provided that the said activities are undertaken under the ARMM region.

The Cebu orientation workshop gave participants valuable and detailed information on preferred investments by the Philippine government, as well as provided them an opportunity to engage personally and consult directly with BOI officers during the one-on-one investment counseling in the afternoon.

The Cebu seminar was part of the BOI's roadshow for the IPP around the country.

The IPP is an annual list of priority projects / activities that can qualify for government incentives under the Omnibus Investments Code (EO 226). Incentives include income tax holidays and tax exemptions, duty-free importation of capital equipment, additional tax deduction on labor and training expenses, employment of foreign nationals, zero-rated VAT, among others.

For more news on DTI please visit http://tradeneconomydti.blogspot.com/ http://tradeneconomydtiact.blogspot.com/