THE Board of Investments (BoI) said it is set to release the 2025-2028 Strategic Investment Priority Plan (SIPP) in the first half, with the new edition expected to rationalize the sector and tier listings of the government’s preferred investments.
At the European Chamber of Commerce of the Philippines Doing Business in the Philippines 2025 Press Launch, BoI Managing Head and Trade Undersecretary Ceferino S. Rodolfo said that the BoI, “in consultation with other investment promotion agencies, government agencies, and stakeholders, is finalizing the 2025-2028 SIPP.”
“The projects identified have a high impact on job creation, value creation through innovation, upgrading, moving up the value chain, and providing essential support to sectors critical to industrial development,” he added.
He said that consultations revealed that some industries have requested that they be reclassified into higher tiers.
“But I think it will be more of the same. If there are any (changes), they may be just articulating further tiers 1, 2, and 3. If there are any industries we are going to look at, we (will focus the review) on the manufacturing sector,” he added.
He said the new SIPP will seek to harmonize with the provisions of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act and the CREATE to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act.
“There are guidelines provided under CREATE and CREATE MORE on which items should be classified as Tier 1, 2, and 3. In CREATE MORE, I think it specified that data centers and cyber security are under Tier 3,” he said.
“So we will adjust the tiers. And then looking at the sectors, we will check who need more incentives, who can go without incentives, or who need enhanced incentives,” he added.
Regarding CREATE MORE, he said that the government will be releasing the implementing rules and regulations (IRR) by the end of January.
“But even as we are still to release the IRR within this month, it’s also very important to note that we have already issued the interim IRR. So, you are not prejudiced by not still having the IRR released,” he added.
The interim IRR allow investment promotion agencies to accept applications for registration under CREATE MORE.
As part of the government’s initiatives in highlighting the advantages of CREATE MORE, the BoI, together with other investment promotion agencies, is organizing roadshows.
He said that the roadshow will visit East Asia, particularly Taiwan, Japan, and South Korea, as well as the European Union and the US. — Justine Irish D. Tabile
