Tens of thousands of jobs emerged from a 3.38 trillion dollar investment marked as a top priority
The Strategic Investment Priority Plan (SIPP), led by the Department of Trade and Industry - Board of Investments (DTI-BOI), is a three-year rolling plan that aims to guide investments and align them with the Philippines' development goals. The SIPP is a critical part of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, designed to position the Philippines as a hub for smart and sustainable manufacturing and services.
The SIPP is focused on creating significant employment opportunities, particularly in sectors such as healthcare, agriculture, renewable energy, and infrastructure, which are collectively known as Tier I sectors. These sectors are essential for generating jobs and addressing labor needs. By supporting innovation-driven industries, the SIPP encourages the development of new technologies and processes, leading to more skilled and better-paying jobs.
The SIPP also includes investments in Tier III sectors, which are dedicated to research and development, highly technical manufacturing, and the production of innovative products and services. This fosters an environment conducive to innovation. The inclusion of digital infrastructure as a priority area boosts innovation by enhancing connectivity and digital capabilities across various sectors.
The SIPP's emphasis on renewable energy, which accounted for 76% of total investments during the June 2022 to December 2024 period, contributes significantly to sustainable growth by reducing dependence on fossil fuels and mitigating environmental impacts. The plan also supports green ecosystems and environmental-related projects, further aligning with sustainable development goals.
The power sector received the largest share of investments, accounting for 76.33 percent of the total. Information and communication, transport and storage, and mining and quarrying sectors also received investments under the SIPP. The SIPP's goal is to ensure that the investments approved under its plan contribute to the growth of various sectors in the Philippines' economy.
Ceferino Rodolfo, Trade Undersecretary and BOI managing head, stated that the SIPP is shaping the Philippines' future as a hub for innovation and green growth. The SIPP's focus on innovation and green growth is a part of its broader aim to position the Philippines as a competitive player in the global economy.
From 2022 to 2024, the SIPP aims to drive economic growth, promote innovation, and ensure sustainable development by prioritizing strategic investments in key sectors. Over 132,000 jobs are expected to be generated from investments approved under the SIPP from June 2022 to December 2024. The SIPP's investments are valued at P3.38 trillion.
The DTI is working closely with Investment Promotion Agencies, the Fiscal Incentives Review Board, other government agencies, and the private sector to ensure the 2025-2027 SIPP reflects evolving national goals and global economic shifts. The timeframe for the investments approved under the SIPP is from June 2022 to December 2024.
[1] Source: Department of Trade and Industry, Board of Investments (DTI-BOI)
The Philippines' government, through the Department of Trade and Industry - Board of Investments (DTI-BOI), is guiding investments through the Strategic Investment Priority Plan (SIPP), to position the country as a hub for smart and sustainable manufacturing and services. This plan supports businesses, particularly in sectors like healthcare, agriculture, renewable energy, and infrastructure, by encouraging the development of new technologies and processes.
The SIPP also supports investments in Tier III sectors, fostering an environment conducive to innovation and the production of innovative products and services. The focus on digital infrastructure as a priority area improves connectivity and digital capabilities across various sectors, driving innovation.
