Investments approve P3.38-T in SIPP to create thousands of work opportunities.
The Philippine government is gearing up for a major push in its quest to establish the country as a hub for smart and sustainable manufacturing and services. Undersecretary Rodolfo, speaking at a recent event, highlighted the Strategic Investment Priority Plan (SIPP)'s pivotal role in this endeavour.
The SIPP, a three-year rolling plan led by the DTI-BOI, has secured total approved investments worth P3.38 trillion between June 2022 and December 2024. These investments are expected to further fuel employment and help the country build a more competitive and sustainable economy.
According to Secretary Roque, these investments will provide thousands of livelihoods for Filipinos, with over 132,000 jobs anticipated to be created. The majority of these jobs will be in the administrative and support services, power, and manufacturing sectors.
The power sector received the largest share of the total approved investments at 76.33%. Other significant sectors receiving substantial investments include information and communication, transport and storage, and mining and quarrying.
Undersecretary Rodolfo also mentioned that the SIPP is shaping the Philippines' future as a hub for innovation and green growth. In the renewable energy sector, investments were substantial in the previous SIPP period, but specific details for the upcoming 2025-2027 SIPP are yet to be disclosed.
Moving forward, the DTI is working closely with various entities to ensure that the next SIPP reflects evolving national priorities and global economic trends. The 2025-2027 SIPP is expected to continue to focus on sustainable development and innovation, aligning with the country's strategic goals.
The SIPP is aligned with the Create Act, as amended by Republic Act No. 12066. The investments approved under the SIPP will span between June 2022 and December 2024.
For more insights into the trends and priorities of the previous SIPP (June 2022 to December 2024), it was observed that more than 132,000 jobs were projected to be created in sectors such as administrative and support services, power, and manufacturing. The power sector dominated with 76.33% of the total investments, while sectors like information and communication, transport and storage, and mining and quarrying also received significant investments, though specific figures were not detailed.
As the country moves towards a more sustainable and competitive future, the SIPP is set to play a crucial role in providing opportunities and strengthening the nation's economic resilience.
The Philippine government's Strategic Investment Priority Plan (SIPP), under the leadership of the DTI-BOI, has secured significant financial investments worth P3.38 trillion for the period between June 2022 and December 2024, aiming to boost employment and create a more competitive and sustainable economy. These investments are expected to generate over 132,000 business opportunities, primarily in administrative and support services, power, and manufacturing sectors.
