By Prince Golez
President Rodrigo Duterte has issued a new memorandum approving the 2020 Investment Priorities Plan (IPP).
In signing Memorandum Order No. (MO) 50 last November 18, Duterte enjoined all government agencies and entities to issue the necessary regulations to ensure the implementation of the IPP in a “synchronized and integrated manner.”
No government body shall adopt any policy or take any course of action contrary to, or inconsistent with, the IPP and relevant laws, his Order read.
“In the grant of incentives, it is understood that the Board of Investments shall ensure the attainment of and consistency with the State policies under Executive Order No. 226 (Omnibus Investments Code of 1987) and the national goals under Republic Act No. (RA) 11469 or the ‘Bayanihan to Heal as One Act’, and RA 11494 or the ‘Bayanihan to Recover as One Act’,” the memorandum said.
MO 50 tasked the Chairman of the Board of Investments to submit an annual report to the President on the accomplishments and implementation of the IPP.
This Order shall take effect 15 days after its publication in a newspaper of general circulation.