On 28 February 2017, President Rodrigo R. Duterte and Executive Secretary Salvador C. Medialdea signed Memorandum Order No. 12 approving the 2017 Investment Priorities Plan (“IPP”). Under the 2017 IPP, preferred activities for investment are listed with particular focus on micro-, small-, and medium-scale enterprises (“MSMEs”), manufacturing, agriculture and fisheries, and drug rehabilitation. Innovation-drive, health, and environment-conscious activities are also given priority.
The 2017 IPP will consider as preferred activities the following investment areas:
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Manufacturing including agri-processing;
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Agriculture, fishery and forestry;
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Strategic services;
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Infrastructure and logistics including local government unit public-private partnerships;
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Health care services including drug rehabilitation;
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Mass housing;
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Inclusive business models;
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Environment and climate change;
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Innovation drivers; and
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Energy.
In addition, the 2017 IPP also lists export businesses, special laws granting incentives, and the Autonomous Region in Muslim Mindanao (“ARMM”) as priority investment areas.
The 2017 IPP is due to take effect on 18 March 2017.
