The Board of Investments has identified nine areas of activities or a negative list that are not qualified as “job saving” under the Contingency List of the 2009 Investment Priorities Plan (IPP), which the Board has approved for Malacañang’s signature.
Activities that are not qualified for BoI incentives under the Contingency List of the 2009 IPP include banks and financial institutions, retailing business (sari-sari stores, mini-groceries, drugstores, cellphone dealers,footwear, garments, among others);underground economic or black market (market/street vendors); personal care services/facilities (beauty parlors, saunas, fitness centers and massage parlor/spa); construction services (refers to contractors that developers engage and provides labor only or labor and materials); building maintenance services; indirect exporters; small-scale mining; activities that are restricted/regulated by law or ordinance for reasons of security, defense and risk to health and morals such as beerhouse, health clubs, etc.
This means that projects or activities that will maintain or increase their investments and will engage in programs or schemes to retain, maintain or expand/increase their current number f employes in view of the current global economic situation that do not fall under the negative list are eligible for BoI incentives.
“The BoI Board has approved the 2009 IPP including the contingency measures for job saving but with a condition that any time of the effectivity of the IPP the economy has recovered from the slump, this particular list would be delisted upon determination by the National Economic and Development Authority,” said Trade and Industry Undersecretary and BoI managing head Elmer C. Hernandez also.
The 2009 IPP is now ready for approval by Malacañang before end this month.–BERNIE CAHILES-MAGKILAT, Manila Bulletin