Investment plan up for review

The BOI has called for maximum participation from industry players and stakeholders in the review.

Gil Dureza, BOI Davao extension chief, told MindaNews the hearing is an important step so the investment board could identify which part of the 2006 priorities plan should be pursued or be scrapped.

Southeastern Mindanao comprises the three Davao provinces and Compostela Valley and the cities of Davao, Panabo, Tagum, Samal and Digos.

Dureza told MindaNews it will be an opportunity for the industry players to share ideas and suggestions.

He was earlier quoted in a press release from DTI as saying industry players can criticize the previous plan, or if they want to add or scrap an item in it.

"If there are changes to be made, then the BOI will debate on it whether to accept the suggestion of the industry players or not," Dureza was quoted as saying.

He said more businessmen might invest because of the effort to engage them.

The 2006 Investment Priorities Plan (IPP) embodies the development thrust of the government for "sustained and equitable economic growth" as espoused in the 10-point agenda of the Arroyo Administration.

The IPP was prepared by the Board of Investments (BOI), as the lead agency in promoting investments, focused on the sectors identified in the Medium-Term Philippine Development Plan (MTPDP) 2004-2010.

Arroyo is scheduled to sign in May the 2007 version of the plan.

According to the press release, the highlight of the consultation will be the identification of areas of investments that the national government must promote further and give more incentives.

Among incentives for discussion include those given to BOI-registered projects such as income tax holidays (ITH) for four to six years and duty-free importation of capital equipment, among others.

In the 2006 plan, the priority projects include export, agricultural-development, tourism, infrastructure, and environment.

The hearing is set Monday morning at the Sultan Function Room of the Royal Mandaya hotel. (Walter I. Balane/MindaNews)