BOI sticks to investment plan target

The Board of Investments (BOI) is keeping its June deadline for completion of the 2013 Investment Priorities Plan (IPP) even as the draft has yet to be submitted to the Office of the President for review.

BOI sources said the board would give other agencies a chance to present all their concerns before completing the plan. But the target completion will not be pushed back.

“June, that is the plan,” one source said in an interview.

Sources said that the Department of Finance wants to remove some of the preferred activities listed on the current IPP.

While discussions are under way, the 2012 IPP will continue to serve as the government’s guide in processing applications for investment incentives such as tax perks and duty-free importation of capital equipment.

Last March, the BOI gave stakeholders involved in the drafting of the 2013 IPP until March 20 to submit comments before finalizing the plan. At the time, the board had just concluded hearings on the proposed 2013 IPP in Cebu, Davao, Clark, and Manila.

The IPP, which is issued annually, lists preferred investment activities that qualify for government incentives. The 2012 IPP covers agriculture/agribusiness/fisheries, creative industries/knowledge-based services, shipbuilding, mass housing, iron and steel, energy, infrastructure, research and development, green projects, motor vehicles, strategic projects, hospital and medical services, and disaster prevention, mitigation and recovery projects.