Philippines - The 2020 Investment Priorities Plan includes “Activities Relating to the Fight Against COVID-19 Pandemic”

The 2020 Investment Priorities Plan (2020 IPP) has been promulgated by the Philippine President under Memorandum Order No. 50 dated November 18, 2020 (click here), and it became effective on December 6, 2020. The IPP is issued pursuant to the Omnibus Investments Code of 1987 (Executive Order No. 226), as amended (Omnibus Investments Code).

The 2020 IPP notably includes all qualified activities relating to the fight against the COVID-19 pandemic in its list of preferred activities for investment. These include (i) the production or manufacture of essential goods, such as medicines, medical equipment and devices, personal protective equipment (PPE), surgical equipment and supplies, laboratory equipment and its reagents, as well raw materials, semi-finished/ intermediate goods and machinery and equipment for use in the production or manufacture of essential goods; and (ii) essential services such as crematoriums, health waste treatment and disposal, laboratories, test facilities, hospitals, and quarantine facilities.

Activities under the 2020 IPP may qualify for various incentives under the Omnibus Investments Code upon registration with the Board of Investments (BOI). In the grant of incentives, the BOI is tasked to ensure the attainment of and consistency with the national goals under Republic Act No. 11469 (Bayanihan to Heal as One Act) and Republic Act No. 11494 (Bayanihan to Recover as One Act).

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