SCD, BOI, Makati City, June 23, 2010

The country’s network of Investments Promotion Agencies (IPAs) has completed the medium-term national marketing plan dubbed as the Philippine Investments Promotion Plan (PIPP) to steer the Philippines through the tides of globalization and prime up capital inflows into the economy. The IPAs unfold the plan as its commitment to laydown the groundwork for sustainable investments and ensuring favorable business climate in the Philippines.

The PIPP is a blueprint for all IPAs to synchronize strategies in investment promotion. As a medium-term marketing development plan covering 2010-2014, this document lays down the strategies to achieve a world-class brand image for the country within the intertwined approaches of image building, investment generation and investment servicing.

“With the PIPP, we see an enhancement of the country’s competitiveness and the increased inflow of investments while creating a synergy among IPAs for its focused promotional approaches in the next five years.” Trade Secretary and BOI Chairman Jesli A. Lapus said.

Through the PIPP, the IPAs investment promotion efforts will be harmonized thus maximizing the use of the country’s marketing resources. It will also carry out focused promotional approaches in informing the international business community of the Philippine investment landscape and unique investment potentials.

PIPP Steering Committee Chairperson Benigno Ricafort said “The PIPP is a concerted effort among IPAs that provides a practical, focused and dynamic guide to respond to the requirements of marketing the Philippines as an investment destination “.

On the other hand, JICA Chief Representative Norio Matsuda stated,“ We support the country’s investment promotion agencies’ collaborative efforts through the PIPP which will engage strategic approaches to develop a more active and effective investment promotion. JICA is committed to work together with development partners and communities of investors to enhance investment climate”.

Secretary Lapus commended the Japanese investors for their confidence in the country as an investment destination of choice in Asia. In recent years, Japan is among the top three investors of the Philippines. From 2004-2009, Japan contributed a cumulative 20% of approved FDI to the country.

Relatively, Japan Bank of International Cooperation (JBIC) 2009 Report on Japanese Manufacturer’s Overseas Business Operations revealed that the Philippines emerged to be on the top13th slot from its previous position of 21st in 2008 as ‘Promising Country for Overseas Business Operations Over Medium Term’.

The DTI Secretary disclosed that an integral component of the plan is the Strategy Paper for the Japanese Investment Market which lays down strategic approaches for the IPAs to generate more foreign direct investments (FDI) from Japan. Said paper studied investment objectives and strategies of Japanese industries by analyzing the FDI patterns of Japanese companies.

Consistent with the major economic blueprints of the country and the government’s priority development agenda, the PIPP recommended eight (8) key sectors to target and conduct focused investment promotion efforts in the medium term (2010-2014). The eight (8) major sectors are: Agro Industry; BPO/IT services, Electronics/Semicon, Energy/Electricity, Logistics Hub, Mining, Shipbuilding and Tourism as the prime investment offerings to potential investors in the Philippines.

“We have agreed among ourselves to work on sector-centered action plans that are both flexible and target-based for a five- year period. We are committed to make these action plans happen through institutionalization of monitoring mechanisms,” PIPP SC Chairperson Benigno Ricafort said.

In May 2009, top executives of the country’s various IPAs gathered at the penthouse of the Board of Investments and signed a Memorandum of Agreement that set up the mechanism for developing the 2010-2014 PIPP. The signing of MOA signified the commitment to undertake an integrated investment promotional approach that will provide a multi-agency perspective and comprehensive view of the wide array of issues and concerns that beset the current system.

The PIPP project was led by a Steering Committee headed by the heads of these IPAs namely : Board of Investments (BOI) Managing Head Elmer C. Hernandez; Clark Development Corporation (CDC) President and CEO Benigno N. Ricafort; Philippine Economic Zone Authority (PEZA) Director- General Lilia B. De Lima; Bases Conversion Development Authority (BCDA) President Narciso L. Abaya; Cagayan Economic Zone Authority (CEZA) Chairman and CEO Jose Mari B. Ponce; Philippine Retirement Authority (PRA) General Manager Reynaldo De Leon Lingat; Subic Bay Metropolitan Authority (SBMA) Chairman Feliciano G. Salonga; Regional BOI-Autonomous Region in Muslim Mindanao Chairman and Managing Head Ishak V. Mastura ; Phividec Industrial Authority Administrator Ms. Nimfa U.Along-Albania; Zamboanga Economic Zone Authority Chairman and Administrator Ms. Georgina P. Yu ; and Aurora Special Economic Zone Authority Acting Deputy Administrator Vitaliano T. Sabalo. This committee provided the strategic direction for the project and served as the approving body of all the required reports for the preparation of the final draft.

Through representations made by the Board of Investments late last year, the Japan International Cooperation Agency (JICA) provided the needed technical support. JICA mobilized the technical expertise of Nomura Research Institute (NRI) for the preparation and completion of the PIPP.