BOI bares '07 Investment Priority Plan

The Board of Investments on Monday released to the public the preliminary list of the 2007 Investment Priorities Plan, development projects that would receive government incentives, which featured iron and steel production and research and development projects as new additions. Other preferred sectors in the proposed 2007 IPP are agriculture, fishery, and support services; healthcare and wellness products and services; information and communications technology; electronics; motor vehicle; energy; infrastructure; tourism; shipbuilding/shipping; machinery and equipment, raw materials and intermediate inputs in support of the activities listed in the IPP. The 2006 IPP also listed 12 preferred sectors. Only the jewelry and fashion garments were missing from the 2007 proposed list. Production of jewelry and fashion garments for export, however, will still enjoy various fiscal and non-fiscal incentives because they will be lumped under "export activities," which is one of the headings of the priority investment areas. The BOI based the contents of the proposed 2007 IPP on endorsements from government agencies. "We want all the departments to have a say in the 2007 IPP so that when it is deliberated in the Cabinet meeting and presented to the public, all agencies will have one voice in depending it," BOI official said. The official said the preliminary version may still be changed based on new petitions and proposals to be given by industry groups. The source said telecommunications could be dropped from the list of activities to be given incentives as it was not endorsed by the Department of Transportation and Communications. Telecommunications was part of the 2006 IPP, lumped under the infrastructure sector, and industry players like Smart, Globe and Digitel sought incentives for their 3G mobile phone projects. The IPP's final drafy will be submitted to Malacanang for approval by the end of March. - GMANews.TV