BOI seeks public input on 2025–2028 SIPP

The Board of Investments (BoI) is seeking public input on the proposed policies and guidelines of the draft Strategic Investment Priority Plan (SIPP) for 2025–2028.

During a hybrid public consultation last week on the proposed general policies and sector-specific guidelines of the draft SIPP, the BoI called on stakeholders to submit position papers on the plan.

The SIPP serves as the national blueprint identifying industries and activities eligible for tax incentives under the CREATE MORE law, with a focus on job creation, innovation, industry upgrading, and support for national priorities such as disaster resilience.

Boost growth via strategic investments

The plan is designed to align with the Marcos administration’s push to boost economic growth through strategic investments in high-value sectors.

According to the BoI, the primary objective of the new SIPP is to update and strengthen the country’s priority investment framework to make it more responsive to evolving domestic needs and global economic trends.

The draft SIPP is structured into three main chapters: definition of terms, general policies, and specific guidelines.

The first chapter proposes updates to key definitions to reflect modern developments. For example, the definition of “Patent” has been revised, while “New Project” has been expanded to include projects that utilize or reactivate facilities or plants that have been idle for at least one year or rendered inoperable due to substantial damage or losses.

The second chapter, covering general policies, introduces several changes, including the addition of a section on Incentives Availment for registered business enterprises. It also proposes the removal of provisions on Income Tax Holiday Availment, while introducing an Enhanced Deduction Regime.

Chapter III outlines the specific guidelines for various sectors and industries, many of which have undergone significant revisions.

Rationalized tiering system to reclassify sectors

The draft proposes a rationalized tiering system to reclassify sectors, ensuring that higher incentives are directed toward more advanced, high-technology, and strategically important projects.

The BoI said it has been consulting closely with the private sector to refine the proposed plan.

The draft SIPP is currently undergoing final review and approval, with the existing 2022–2025 SIPP remaining in effect until the new plan is formally adopted.