Memorandum Order No. 50 was signed by Duterte on Nov. 18, and was released to media on Nov.19. It mandates all government agencies to issue the necessary regulations to ensure the synchronized and integrated implementation of the IPP.
The preferred investment areas of the Duterte administration are the following:
-COVID-19 pandemic response
-Generating employment opportunities outside of congested urban areas
-Manufacturing activities including Agro-Processing
-Agriculture, fishery, and forestry
-Strategic services including integrated circuits design; creative industries, maintenance, repair, and overhaul of aircraft; charging/refueling stations for alternative energy vehicles; industrial waste treatment; telecommunications; and state-of-the-art engineering, procurement, and infrastructure.
-Healthcare and disaster risk reduction management services
– Mass housing
-Infrastructure and logistics including local government unit-public-private partnerships
-Innovation drivers
-Inclusive business models
-Environment or climate change-related projects
-Energy
The Board of Investments may grant up to six years of income tax holiday to qualified activities related to pandemic response and generating employment outside urban areas.
Also considered priorities are export activities and activities based on special laws that provide incentives like the Revised Forestry Code of the Philippines; Philippine Mining Act of 1995; Book Publishing Industry Act; Downstream Oil Industry Deregulation Act of 1998; Magna Carta for Disabled Persons; Renewable Energy Act of 2008; The Tourism Act of 2009; and Energy Efficiency and Conservation Act.
The memorandum also stated the priority investment areas of the Bangsamoro Autonomous Region in Muslim Mindanao for 2020 to 2022:
-Export activities
-Agriculture, agribusiness, aquaculture, and fishery
-Basic industries
-Infrastructure and services
-Industrial service facilities
-Engineering industries
-Logistics
-BIMP-EAGA-related investment enterprises
-Tourism
-Health and education services and facilities
-Halal industry
-Investment operations under Republic Act No. 11439 (An Act Providing for the Regulation and Organization of Islamic Banks)
-Energy
Metro Manila (CNN Philippines, November 20) – President Rodrigo Duterte has approved the 2020 Investment Priorities Plan, which contains programs that are qualified for incentives in order to make economic growth more inclusive.
