Cabinet OKs 2010 investment plan

MANILA, Philippines - The Cabinet yesterday approved the 2010 Investments Priorities Plan (IPP), a move that will help boost employment and investments in the country and at the same time help mitigate the adverse effects of the El Niño dry spell especially in Mindanao.

The objective of this year’s IPP is to promote economic activities that will capture growth prospects of the global economic rebound, maximize opportunities from the implementation of free trade agreements (FTAs) and promote a green economy.

The 2010 IPP with the theme “Maximizing Opportunities of a Stronger Philippine Economy” is based on the Medium Term Philippine Development Plan (MTPDP), the 2009 State of the Nation Address (SONA) of President Arroyo, National Science and Technology Plan, National Statement during the Copenhagen Conference of the Parties, current global realities, trends and markets and the country’s international engagements.

The 2010 IPP has four major areas - preferred activities, mandatory list, export activities and the Autonomous Region in Muslim Mindanao list.

Trade Secretary Jesli Lapus said the new IPP goal is to attract more investments that will create more jobs for the country.