Marcos OKs revised Philippine investment priority plan

MANILA, Philippines – President Ferdinand Marcos Jr. has approved the Philippines’ revised investment priority plan, which will guide the grant of fiscal incentives to registered businesses and investors through 2028.

On May 21, Under Memorandum Order No. 47, Marcos approved the 2026 Strategic Investment Priority Plan (SIPP), which identifies priority economic activities eligible for incentives under a three-tier system.

This plan serves as a guide for granting incentives under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (Create More) Act.

Trade Secretary Cristina Roque said the revised SIPP was intended to attract investments in industries that support the country’s long-term industrial and economic transformation.

“By listing activities eligible for incentives, government is signaling where we want to attract high-value capital, and translate these into new jobs, upskilling of workforce, and improved lives for Filipinos,” Roque said in a statement.

This new plan replaces the 2022 SIPP, which still included incentive support for COVID-19-related activities.

Tiers

Under Tier I, the government will prioritize investments in agriculture, fishery and forestry; manufacturing; halal, kosher and organic-related activities; services; healthcare and disaster risk reduction management services; infrastructure and logistics; and energy.

Tier I also covers sustainability-driven activities such as hazardous waste treatment, wastewater treatment, bulk water supply projects, carbon-reduction initiatives and other climate-related investments.

Meanwhile, Tier II focuses on strategic industries including defense services, desalination, electric vehicle infrastructure, sustainable aviation fuel and processing of critical minerals.

Tier III, the highest priority category, covers advanced technologies such as artificial intelligence, quantum computing, cybersecurity, hydrogen and nuclear energy, and advanced research and design.

Apart from domestic-oriented projects, the SIPP also covers export activities, including export manufacturing, service exports and support services for exporters.

Guidelines out by Q3

The revised SIPP was developed by the Board of Investments (BOI) alongside other investment promotion agencies and the Fiscal Incentives Review Board. Consultations were also held with the private sector.

Sandra Recolizado, director of the BOI’s Investment Policy and Planning Service, said the general policies and specific guidelines for the revised SIPP would be finalized in the coming months.

“With the official issuance of the 2026 SIPP, we are fast- tracking the finalization of the GP and SG and will publish within the 3rd Quarter,” Recolizado said. In the meantime, applicable 2022 SIPP GP and SG remain in effect. /pai INQ