BOI eyes unit for inclusive accreditation

MANILA, Philippines - The Board of Investments (BOI) is set to establish a unit responsible for the accreditation of enterprises entitled to incentives for adopting the inclusive business model by next year.

BOI managing head Adrian Cristobal, Jr. told reporters the agency intends to have the unit and the guidelines for inclusive business accreditation by next year. “We target around first quarter,” he said.

The BOI is currently working with the Asian Development Bank and the Philippine Business for Social Progress for the accreditation system.

An accreditation system is being established to be able to grant incentives to enterprises adopting the inclusive business model under the 2014 Investment Priorities Plan (IPP) approved by President Aquino last month.

The IPP is a list of economic activities being promoted by government.

Activities listed on the IPP qualify for fiscal and non-fiscal incentives.

The 2014 IPP lists the following as preferred activities: manufacturing (motor vehicles,parts and components, body stamping as well as motor and batteries for electric vehicles), agribusiness and fishery, services, economic and low-cost housing, hospitals, energy, public infrastructure and logistics, and Public-Private Partnership projects.

The IPP also covers export activities and special laws such as industrial tree plantation; exploration, mining, quarrying and processing of minerals; publication or printing of books or textbooks; refining, storage, marketing and distribution of petroleum products; rehabilitation, self-development and self-reliance of persons with disability; renewable energy; and tourism.