Makati: Trade Undersecretary Ceferino Rodolfo announced that the new 2025-2028 Strategic Investment Priority Plan (SIPP) will be unveiled during the first half of next year. Rodolfo, who also serves as the Managing Head of the Board of Investments (BOI), highlighted that the investment promotion agency is currently rationalizing the sectors to be included in the upcoming SIPP. These sectors will be aligned with the eight-point socioeconomic agenda of the Marcos administration.
According to Philippines News Agency, the SIPP is a three-year plan that lists key economic activities eligible for fiscal incentives under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE). In collaboration with other IPAs, government agencies, and stakeholders, the BOI is finalizing the 2025 SIPP by identifying projects with significant impacts on job creation, innovation, value upgrading, and essential support to sectors critical for industrial development.
Rodolfo advised those uncertain if their sector or project will be included in the next SIPP to apply promptly under the current SIPP. He also noted that some sectors are requesting to be reclassified into higher tiers to obtain more tax benefits.
In the 2022 SIPP, preferred activities under Tier I included various sectors such as healthcare, agriculture, manufacturing, and renewable energy, among others. Export activities under Tier I encompassed the production and manufacture of export products and services.
Rodolfo also mentioned that the Philippine government plans to conduct CREATE MORE roadshows this year, targeting East Asian and European countries. He will attend a trade and investment forum in Amsterdam, Netherlands, to promote the generous tax perks under CREATE MORE to Dutch investors. The Netherlands has been a significant source of foreign investment approvals in the BOI, with PHP44.5 billion registered from Dutch companies last year.
In 2024, investment pledges with the BOI reached a record high, increasing by 28 percent to USD1.62 trillion.
