MANILA: Philippine investment promotion agencies are targeting P4.5 trillion (RM298bil) in investment approvals under the revised Strategic Investment Priority Plan (SIPP), the first to be rolled out under the Marcos administration, which places greater emphasis on innovation and technology.
That target is 33.14 per cent higher than the P3.38 trillion generated under the previous 2022-2025 SIPP, which was drawn up during the Duterte administration and focused largely on manufacturing, infrastructure and basic services. This investment pipeline generated more than 132,000 jobs.
“This is significant because this will be the first time that we have the new SIPP alongside the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act,” said Trade Undersecretary Ceferino Rodolfo, who also heads the Board of Investments (BOI).
Rodolfo said the new investment plan would guide the granting of fiscal and tax incentives under the CREATE MORE law by classifying investment activities into three priority tiers based on their alignment with the Marcos administration’s economic agenda.
At the top of the list are investments related to the “industries of the future”.
Tier 3, the highest-priority category, covers innovation-driven activities such as artificial intelligence, defence manufacturing, quantum computing, cybersecurity, hydrogen and nuclear energy, as well as advanced research and design.
Tier 2 includes strategic industries such as defence services, desalination, electric vehicle infrastructure, sustainable aviation fuel and critical minerals processing.
Meanwhile, Tier 1 covers modern basic needs, including agriculture, fisheries and forestry, manufacturing, as well as halal, kosher and organic-related activities. It also includes healthcare, disaster risk reduction services, infrastructure and logistics, energy and other services.
Rodolfo said he expected most Tier 3 investments to flow through investment promotion agencies operating within the Luzon Economic Corridor, a multi-country initiative that aims to spur development within the Subic-Clark-Manila-Batangas growth belt.
Renewable energy projects, however, are expected to remain concentrated at the BOI. As of the first half of 2026, the agency had approved P343.47 billion worth of renewable energy investments, accounting for 74.25 per cent of its P461.84-billion investment pipeline.
With that strong pipeline, Rodolfo said the BOI was now shifting its focus from investment promotion to project implementation.
“The Philippines has already proven to be such a magnet for investments in renewable energy,” he said.
While the BOI would scale back promotional efforts for the sector, renewable energy projects would continue to enjoy the same incentives, he added.
Looking ahead, Rodolfo said the government was studying the possibility of extending the validity of SIPPs to six years to better align them with the Philippine Development Plan, which currently covers 2023 to 2028.
For now, Trade Secretary Cristina Roque said the priority was to convert the investment plan into actual projects.
“Our goal is clear – to turn these priorities into investments that create quality jobs, strengthen industries and generate more economic opportunities for Filipinos across the country,” Roque said in a statement.
The BOI is currently conducting nationwide roadshows to present the revised SIPP. It is targeting the release of its general policies and implementation guidelines in the third quarter. – Inquirer/ANN
