BOI eyes release of updated SIPP by year-end

The Board of Investments (BOI) is targeting to release the updated 2025–2028 Strategic Investment Priority Plan (SIPP) before the year ends, a senior official said Friday.

BOI Investment Promotions Services Executive Director Evariste Cagatan said the refined version, which will require approval from the BOI Board and the Office of the President, will expand the list of sectors eligible for tax perks under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) law.

“It is being finalized. The target is to submit to the Office of the President in the fourth quarter,” Cagatan said on the sidelines of the 2025 Arangkada economic forum in Pasay City.

Under the draft, Tier 1 activities include products addressing modern basic needs—such as agriculture, fisheries, forestry, manufacturing, Halal, kosher and organic industries, services, energy, sustainability-driven sectors like waste treatment, bulk water supply, and exports.

Tier 2 covers goods and services not produced locally, import-substitution activities, defense, industrial value chain gaps, and food security initiatives.

Tier 3 will prioritize highly strategic and innovation-driven industries.

Cagatan expressed confidence that the updated SIPP will help sustain the rise in investment approvals, with BOI already accounting for about 83% of total approvals last year.

“While we are seeing gains in the economy and in FDI, moving forward our focus really is to ensure that today’s investment gains translate into long-term economic resilience,” she said.

She added that the Philippines aims to position itself as Southeast Asia’s hub for smart and sustainable manufacturing and services, with government enabling private sector-led growth through strong infrastructure, market-driven policies, and active partnerships.