Gov’t eyes earlier IPP implementation

MANILA, Philippines - The government is targeting an early implementation of the 2014 Investment Priorities Plan (IPP) which would contain major changes to the 2013 IPP.

Trade Secretary Gregory Domingo said yesterday that the 2013 IPP, which has already been submitted to President Aquino, is a carry over of the 2012 list with minor adjustments.

“There will only be minor changes in the 2013 IPP. The major changes will be made in the 2014 IPP. That one will not be a carry over,” said Domingo in an interview on the sidelines of the formal launch of a manufacturing facility of Fujifilm Optics Philippines Inc. in Laguna.

Trade Undersecretary Adrian Cristobal Jr. earlier said the minor changes in the 2013 IPP pertain to the identification of the type of hospitals that are seeking tax incentives.

Domingo said the 2014 IPP is intended for release in December.

“We want to release it earlier,” he said.

The Trade chief declined to specify the major changes that would be made in the 2014 IPP, but said it should be crafted to conform to the Medium-term Development Plan set by the National Economic and Development Authority (NEDA) and the industry roadmaps currently being crafted.

“We will work closely with NEDA in choosing the industries (that will be granted tax incentives) so these will be aligned to the medium term development plan,” said Domingo.