The latest version of the Strategic Investment Priority Plan (SIPP) has been approved, the Department of Trade and Industry (DTI) said, as Acting Executive Secretary Ralph G. Recto signed Memorandum Order No. 47 on May 21. The news was first reported by BusinessWorld .
The updated SIPP strengthens the incentives regime for priority sectors, including agriculture and food production, as well as high-end manufacturing activities such as shipbuilding. The plan outlines the government's investment priorities and determines the fiscal and non-fiscal incentives available to qualified enterprises.
The approval of the latest SIPP is seen as a key step in attracting investments to targeted industries, aligning with the government's goal of fostering economic growth and industrialization. The plan is regularly updated to reflect changing economic conditions and strategic objectives.