Philippine cabinet approves investments

But the specific guidelines of the 2011 Investment Priorities Plan (IPP) could still be tweaked based on inputs from stakeholders, Efren Leaño, BOI executive director, told reporters.

The controversial portion on mass housing would be subject to negotiations between the BOI and the interagency Housing and Urban Development Coordinating Council (HUDCC), Leaño said.

During last week’s public hearing on the 2011 IPP’s specific guidelines, developers and HUDCC bucked the proposed rules on socialized housing as well as the P2.5-million ceiling on low-cost housing units eligible for tax and other perks.

The BOI shall accept position papers concerning the 2011 IPP’s guidelines until May 10, and would hold a final deliberation two days after.

Leaño said the BOI aims to make the specific guidelines ready as soon as the President approves the 2011 IPP.

The preferred investment activities under the 2011 IPP are agriculture/agribusiness and fishery, energy, green projects, infrastructure, mass housing, motor vehicles, public-private partnership projects, research and development, shipbuilding, strategic projects, and tourism.