PUBLIC-PRIVATE partnership (PPP) projects are joining this year’s list of priority investment areas that would enjoy incentives from the government.
According to a draft of the 2011 Investment Priorities Plan (IPP), key PPP projects would be included in the “preferred activities” list.
The PPP initiative is a priority program of the Aquino administration aimed at driving economic growth through infrastructure development.
The other preferred investment activities are agriculture/agribusiness and fishery; creative industries (including business process outsourcing, information technology (IT), IT-enabled services, and film and performing arts production); shipbuilding; mass housing; energy; infrastructure; research and development; green projects; tourism; and strategic projects, which include motor vehicle assembly and manufacture of auto parts and components.
According to the draft 2011 IPP, “The extent of entitlement to incentives shall be based on the project’s net value-added, job generation, multiplier effect and measured capacity.”
The Department of Trade and Industry (DTI) had said that its investment promotion agencies—the Board of Investments and the Philippine Economic Zone Authority—would prioritize attracting investments that can contribute more value-added to the economy.
Also, DTI would introduce an incentives-giving tack wherein the fiscal and nonfiscal incentives to be granted are “directly correlated” to the benefits the project gives.
The draft 2011 IPP did not include cement production, iron and steel manufacturing, and disaster prevention, mitigation and recovery projects—all of which were part of the 2010 IPP.
The “Contingency List”—which was introduced in the 2009 IPP and retained last year to give projects badly hit by the global recession a breather—was also removed from the 2011 IPP draft.
This year’s IPP retained the “Mandatory List” covering activities that must be included in the IPP as provided for under existing laws; export activities; and the Autonomous Region of Muslim Mindanao list for projects in the area. –BEN ARNOLD O. DE VERA REPORTER, Manila Times
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