Pasay: An official of the Board of Investments (BOI) on Friday expressed optimism that the updated 2025-2028 Strategic Investment Priority Plan (SIPP) will be released by the end of this year. The refined version, which needs the approval of the BOI Board and the Office of the President, will include new sectors that will be qualified for incentives under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE).
According to Philippines News Agency, BOI Investment Promotions Services Executive Director Evariste Cagatan told journalists on the sidelines of the 2025 Arangkada economic forum in Pasay City that the plan is being finalized, with the target to submit to the Office of the President in the fourth quarter. In her presentation, Cagatan detailed that under Tier 1 of the proposed updated list are products addressing modern basic needs, such as those in agriculture, fisheries and forestry, manufacturing, Halal, kosher, and organic-related activities, services, and energy.
Also included under this tier are industries focused on sustainability, such as industrial and/or hazardous waste treatment and bulk water treatment and supply, export activities, and those covered by special laws. Tier 2 encompasses goods and services not locally produced and import-substituting activities, particularly those involved in defense, industrial value chain gaps, and food security. Tier 3 consists of highly strategic and innovation-driven activities.
The BOI official expressed optimism for the sustained rise of investment approvals this year, noting that around 83 percent of last year's approvals were accounted for by the BOI. She explained the focus is on ensuring current investment gains translate into long-term economic resilience, highlighting the importance of not only attracting capital but also creating an enabling environment for innovation, advancing industries up the value chain, and fostering inclusive and sustainable opportunities.
"Our vision is to propel the Philippines into a virtuous cycle of sustained economic growth by transforming our country into Southeast Asia's hub for smart and sustainable manufacturing and services, driven by an empowered private sector supported by the government as the enabler through market-driven policies, strong infrastructure, and active private sector partnerships," Cagatan added.
