Section 4-5

IIPCC Powers and Foreign Inuestments Promotion ond Marketing Plan

March 25, 2022

Section 4: IIPCC Powers

  • establish medium-and-long-term Foreign Investment Promotion and Marketing Plan (FIPMP), coordinating all existing investment development plans and programs under the BOI, PEZA, and various investment promotion agencies (IPAs), LGUa, and other agencies, as delineated in Section 4-B of this Act;
  • design a comprehensive marketing strategy and campaign, promoting the country as a desirable investment area;
  • support inbound and outbound foreign direct and trade missions for new international markets to explore the country as a possible location to do businese;
  • to encourage and support research and deve! ment inpriority areas indicated by the FIPMP;
  • to monitor actual performance against measurable and timebound targets in the FIPMP, to include job generation;
  • to submit annual evaluation and reports to the President of the Philippines and the Congress regarding the activities of the IIPCC;
  • to establish and regularly update an online database including a directory of ready local partners from priority sectors un‹1er the FIPMP, as a toolfor promoting investments and business matching in local supply chains; and
  • to support local government efforts to promote foreign direct investments, expedite compliance with national requirements and address other safeguards and services requested by foreign investors in their different localities involved with said foreign investments.”

Section 5

Foreign Inuestments Promotion ond Marketing Plan (FIPMP) is a comprehensive plan based on competitive advantages, natural reaources, skill and educational development, traditional linkages, and international market potential, and it ia fully consistent with the strategic investment priorities plan under Title 13 of the National Internal Revenue Code, as amended: Provided, JrtHr, That an online portal containing the FIPMP shall thereafter be uploaded, containing further details such as the IIPCC’s procedure, contacts, schedules, among others.

The said database should also include a directory of local enterprises capable and willing to partner with potential foreign investors. The IIPCC shall consult local chambers ofcommerce, sectoral, business groups, and other individual partners whenever foreign applicants aeek partners, subcontractors, suppliers, and other local businese counterparts.

“Similarly, Department of Education (DepEd), CHED, TESDA, Dep artment of Labor and Employment (DOLE), the Professional Regulation Commission (PRC), and other training agencies involved in education and skills development ahall likewise direct curriculum and training efforts toward manpower requirements of the FIPMP.

The IIPCC shall coordinate with the concerned government agenciee to ensure their alignment with the FIPMP.

DTI shall promulgate such rules and reguJ.ations n.ecersary to i.mplement this Froxñaion