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MANILA - Malacañang has approved this year’s Investment Priorities Plan, which lists the sectors that would benefit from tax and other incentives.
"The President last week approved the IPP for 2012. Right now, the Board of Investments is conducting its consultations with different sectors and reviewing the rules and regulations," Trade Undersecretary Adrian S. Cristobal Jr. told reporters on Tuesday.
Sectors included in the 2012 IPP are agriculture/agribusiness and fishery; energy; iron and steel; creative industries/knowledge-based services; shipbuilding; mass housing; infrastructure; research and development; green projects; motor vehicles; hospitals and medical; and disaster prevention, mitigation and recovery projects.
"The policy direction really is to get value for our incentives and we want to make sure that the incentives are used effetively to achieve inclusive growth," Cristobal said.
Last year, the BOI approved a total of P368.9 billion worth investments, up 22 percent from the 2010 figure of P302 billion.
Once in place, the investment commitments are expected to generate 67,211 jobs, higher than the 36,751 promised in 2010.
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