OVER 132,000 job openings will be created from the approved P3.38 trillion poured into the Strategic Investment Priority Plan (SIPP) from June 2022 to December 2024, the Department of Trade and Industry (DTI) said in a statement.
Many of the employment opportunities are in the administrative and support services, power, and manufacturing sectors.
Some 76.33 percent of the investments is attributed to the power sector, the largest share in the SIPP.
Other sectors with big capital infusions include information and communication, transport and storage, and mining and quarrying.
The investments will further help advance the country’s goal of building a more competitive and sustainable economy, said the DTI.
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“These investments mean thousands of livelihoods for Filipinos and stronger foundations for our economy. As we work to attract strategic projects, our focus remains on translating these into real opportunities for our people,” Trade Secretary and Board of Investments Chairperson Cristina A. Roque said.
“Beyond numbers, the SIPP is shaping the Philippines’ future as a hub for innovation and green growth. We are committed to ensuring that these investments drive not only economic gains but inclusive development,” Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo added.
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The SIPP is a three-year plan that identifies priority investment activities of various industries, sectors, and businesses, that may qualify for fiscal and non-fiscal incentives aligned with the Corporate Recovery and Tax Incentives for Enterprises (Create) Act, as amended by Republic Act 12066.
The DTI is working closely with the Fiscal Incentives Review Board, relevant government agencies, and private sector stakeholders to ensure that the next SIPP (2025-2028) reflects the evolving national priorities and global economic trends.
Earlier this year, Rodolfo said that the next SIPP will include projects with “high impact” for job creation, moving up the value chain and providing essential support to sectors critical to industrial development.
Changes could be seen in terms of “articulating further tiers one, two, and three. If there are any industries we are going to look at, we will focus the review on the manufacturing sector,” Rodolfo pointed out.
