Philippines Unveils Revised Investment Priority Plan to Boost Economic Growth
Marcos OKs revised Philippine investment priority plan
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President Ferdinand Marcos Jr. has approved a revised investment priority plan for the Philippines, which will guide fiscal incentives for businesses through 2028. The plan aims to attract investments in key sectors, supporting the country's long-term economic transformation.
- 01The revised plan replaces the 2022 Strategic Investment Priority Plan (SIPP) and includes a three-tier system for prioritizing investments.
- 02Tier I focuses on agriculture, manufacturing, healthcare, and sustainability-driven activities, while Tier II targets strategic industries like defense and electric vehicle infrastructure.
- 03Tier III emphasizes advanced technologies such as artificial intelligence and quantum computing.
- 04The plan was developed by the Board of Investments in consultation with private sector stakeholders.
- 05Specific guidelines for the revised SIPP are expected to be published by the third quarter of this year.
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President Ferdinand Marcos Jr. has approved the revised Strategic Investment Priority Plan (SIPP) for the Philippines, which will guide the allocation of fiscal incentives to businesses and investors until 2028. The new plan, outlined in Memorandum Order No. 47, introduces a three-tier system to prioritize economic activities. Tier I includes sectors such as agriculture, manufacturing, and healthcare, while Tier II focuses on strategic industries like defense and electric vehicle infrastructure. The highest priority, Tier III, covers advanced technologies including artificial intelligence and quantum computing. Trade Secretary Cristina Roque emphasized that the plan aims to attract high-value investments, create jobs, and enhance the quality of life for Filipinos. The Board of Investments, in collaboration with other agencies and private sector representatives, developed the revised SIPP, with specific guidelines expected to be finalized by the third quarter of this year.
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The revised SIPP is expected to stimulate economic growth by attracting investments in priority sectors, leading to job creation and improved living standards.
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