MORE than 132,000 jobs will be made available to job seekers from the P3.38 trillion worth of investments approved under the Strategic Investment Priority Plan (SIPP) from June 2022 to December 2024.
The investments will further help fuel employment and advance the country’s goal of building a more competitive and sustainable economy.
A substantial portion of the projected employment will be in administrative and support services, power, and manufacturing sectors.
In terms of investment value, the power sector accounted for the largest share of the total approved investments at 76.33%. Other significant sectors drawing considerable capital include information and communication, transport and storage, and mining and quarrying.
Trade Secretary and Board of Investments (BOI) Chairman Cristina A. Roque emphasized that these investments translate into tangible benefits for Filipinos by providing livelihoods and strengthening the country’s economic resilience.
“These investments mean thousands of livelihoods for Filipinos and stronger foundations for our economy. As we work to attract strategic projects, our focus remains on translating these into real opportunities for our people,” Secretary Roque said.
Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo highlighted the SIPP’s strategic role in positioning the Philippines as a hub for smart and sustainable manufacturing and services.
“Beyond the numbers, the SIPP is shaping the Philippines’ future as a hub for innovation and green growth. We are committed to ensuring that these investments drive not only economic gains but inclusive development,” Undersecretary Rodolfo added.
The SIPP, led by the DTI-BOI, is a three-year rolling plan that identifies priority investment activities for fiscal and non-fiscal incentives aligned with the Create Act, as amended by Republic Act No. 12066.
Moving forward, the DTI is working closely with Investment Promotion Agencies, the Fiscal Incentives Review Board, other relevant government agencies, and private sector stakeholders to ensure that the next SIPP (i.e., 2025-2027 SIPP) reflects evolving national priorities and global economic trends. PR