The Philippines Wednesday launched an investment- promotion masterplan that aims to increase by 2014 the government’s investment approvals to PHP657.78 billion ($14.4 billion), double that in 2009.
Benigno Ricafort, chairman of the plan’s steering committee and chief executive of Clark Development Corp., said the Philippine Investment Promotion Plan, or PIPP, aims to simplify the investment process to make the Philippines more attractive as an investment city.
He said the PIPP focuses on eight sectors–namely agro-industry, tourism, energy, mining, shipbuilding, business process outsourcing and information technology services, logistics hub, and semiconductors and electronics manafucturing–as investment priorities.
