Govt preparing multiyear investment promotions plan

The country’s investment promotion agencies on Friday signed an accord that will lay the foundation for the development of the 2010 to 2014 Philippine Investments Promotions Plan (PIPP) within this year.

According to the Trade department, the memorandum of agreement will pave the way for the synchronization of strategies of various investment promotion agencies under the 2010 to 2014 PIPP. This plan will also serve as a benchmark for the country’s promotional practices vis-à-vis neighbors in the region.

“[The PIPP] will lay down the strategies to achieve a world-class brand image for the country within the intertwining approaches of image building, investment generation and investment servicing,” the Trade department said in a statement.

Representatives of the Aurora Special Economic Zone Authority, Bases Conversion Development Authority, Board of Investments, Cagayan Economic Zone Authority, Clark Development Corp., Philippine Economic Zone Authority, Philippine Retirement Authority, Phividec Industrial Authority, Regional Board of Investments of the Autonomous Region in Muslim Mindanao, Subic Bay Metropolitan Authority, and Zamboanga City Special Economic Zone Authority and Freeport, signed the MOA.

A steering committee will map out direction of the PIPP and will approve the required reports prior to the preparation of the final draft, the Trade department said.

For this endeavor, the Japan International Cooperation Agency will provide financial and technical assistance, as it has mobilized its consultants to offer external technical expertise until the completion of the PIPP, the Trade department said. — Ben Arnold O. de Vera, Manila Times