Articles worth reading

Cebu Pacific welcomes 2021 with month-long P88 seat sale 

account_balanceMetro Manila access_time4 days ago

The Philippines’ leading carrier, Cebu Pacific (CEB) greets 2021 with a special PHP88 all-domestic seat sale. This year-opener, month-long promo aims to further inspire everyJuan to support local and show #JuanLove for the Philippines in 2021. ...

Manila builds vaccine storage facility 

account_balanceManila access_time4 days ago

Manila began construction of a coronavirus disease-2019 vaccine storage facility at Sta. Ana Hospital, according to a report by Manila Bulletin. In an interview with CNN Philippines, Manila Mayor Francisco “Isko Moreno” Domagoso sai...

Quezon City watches first UK variant case

account_balanceQuezon City access_time4 days ago

The Quezon City government, in coordination with the Department of Health, is closely monitoring the case of a resident who tested positive for the Covid-19 United Kingdom variant (B.1.1.7). The patient was tested on January 7 upon arrival from Duba...

Metro Manila News

President Rodrigo Duterte / PCOO

2020 Investment Priorities Plan approved

account_balanceMetro Manila chat_bubble_outline0 Comments

President Rodrigo Duterte has approved the 2020 Investment Priorities Plan (IPP) of the Board of Investments (BOI) which contains among others, all qualified activities relating to the fight against the coronavirus disease (Covid-19) pandemic and the “Balik Probinsya” program, according to a report by Philippine News Agency.

The IPP is the government’s blueprint of priority economic activities that qualify for fiscal incentives.

Under Memorandum Order No. 50 signed by Duterte on Thursday, the IPP covers the production or manufacture of medicines, medical equipment and devices, personal protective equipment (PPE), surgical equipment and supplies, among others.

The eight-page memo also covers the provision of services such as but not limited to crematoriums, health waste treatment and disposal, laboratories, test facilities, hospitals, and quarantine facilities.

Also covered are investments in activities supportive of programs that generate employment opportunities outside congested urban areas such as the Balik Probinsya Program.

The Balik Probinsya Program, institutionalized by Duterte last May, aims to address Metro Manila's congested urban areas by encouraging people, especially informal settlers, to return to their home province.

All qualified manufacturing activities including agro-processing; agriculture, fishery, and forestry; strategic services; healthcare and disaster risk reduction management services; mass housing; infrastructure and logistics including public-private partnership projects implemented by local government units; innovation drivers; inclusive business models; environment or climate change-related projects; and energy are also covered.

The IPP also contains a list of priority investment areas for the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) such as export activities; agriculture, agribusiness, aquaculture, and fishery; basic industries; infrastructure and services; industrial service facilities; engineering industries; logistics; enterprises using the Brunei Darussalam-Indonesia-Malaysia-Philippines East Asean Growth Area (BIMP-EAGA) framework on trade and investments; tourism; health and education services and facilities; Halal industry; investment operations under Republic Act No. 11439 or An Act Providing for the Regulation and Organization of Islamic Banks; and energy.

Upon effectivity of the IPP, all government agencies and entities are enjoined to issue the necessary regulations to ensure its implementation in a synchronized and integrated manner.

In the grant to incentives, it is understood that Board of Investment will ensure the attainment of and consistency with state policies under Executive Order No. 226, or the Omnibus Investments Code and national goals under Republic Act No. 11469 or the Bayanihan to Heal As One Act (Bayanihan 1) and R.A. 11494 or the Bayanihan to Recover as One Act (Bayanihan 2).

BOI chairman, Trade and Industry Secretary Ramon Lopez, must render an annual report to the President on the accomplishments and implementation of the IPP.

Memorandum Order No. 50 will take effect 15 days after its publication in a newspaper of general circulation.

date_rangeDate Published
1 month ago
shareShare article
folder_openArticle tags
content_copyCategorized under

Share your thoughts with us

Related Articles

Vlogger superstar and actress Alex Gonzaga and Lipa City Councilor Mikee Morada

Alex Gonzaga marries fiance Mikee Morada

account_balanceMetro Manila chrome_reader_mode1 day ago

In Alex Gonzaga's latest vlog entry, she and Mikee Morada announced that they are in fact married, and that they've been married since last November, according to a report by GMA News. Alex announced the news on her birthday, exactly one yea...

Cebu Pacific welcomes 2021 with month-long P88 seat sale 

account_balanceMetro Manila chrome_reader_mode4 days ago

The Philippines’ leading carrier, Cebu Pacific (CEB) greets 2021 with a special PHP88 all-domestic seat sale. This year-opener, month-long promo aims to further inspire everyJuan to support local and show #JuanLove for the Philippines in 2021. ...

BPO supports office space demand 

account_balanceMetro Manila chrome_reader_mode3 days ago

The business process outsourcing (BPO) had the most number of office space demand in 2020, the Lobien Realty Group said in a report by Philippine News Agency. In a virtual briefing, chief executive officer Sheila Lobien said the BPO sector has again...

Quezon City tracking co-passenger of UK variant carrier

account_balanceQuezon City chrome_reader_mode2 days ago

Contact tracing is underway for one co-passenger of the first case of the B.1.1.7 SARS-CoV-2 variant (United Kingdom variant) who was reported to be a resident of Quezon City, according to a report by Philippine News Agency. In a Laging Handa presse...

PNP Chief Gen. Debold Sinas

Random drug tests for PNPA cadets to intensify

account_balanceMetro Manila chrome_reader_mode5 days ago

Philippine National Police (PNP) Chief, Gen. Debold Sinas said he wants more random drug tests to be conducted among cadets, personnel, and employees of the PNP Academy (PNPA) in Silang, Cavite in line with ongoing efforts to stamp out illegal d...

Las Piñas starts census for vaccine 

account_balanceLas Piñas chrome_reader_mode6 days ago

Las Piñas City started a community-based census to determine the number of city residents who will be willing to be given vaccine shots against COVID 19, according to a report by Manila Bulletin. Prioritization of vaccine recipients has been ...

Let's Stay Connected Like us on our Facebook page.
×
Click on the article to continue reading
Manila prohibits street parties during Sto. Nino fiesta Red Cross tries saliva Covid-19 tests Traslacion likely to swell Covid-19 cases in 3 weeks Skyway 3 opening rites set Jan. 14 MRT-3 to soft launch contact tracing app PH includes China, 4 other countries in travel ban Send Press Release MNC Facebook Page MNC Twitter Page MNC Instagram Page LGU Spotlight Barangay Front Business Sports Entertainment Metro Gen Metro Feature