Philippines updates investment priority plan for 2026-2028.
The Philippine government has begun rolling out the 2026-2028 Strategic Investment Priority Plan (SIPP), the framework that determines which industries qualify for tax incentives under the CREATE MORE Act. Approved through Memorandum Order No. 47, the plan moved from approval into active implementation in July, with the Board of Investments (BOI) launching a nationwide roadshow and officials setting out a combined investment target across the country’s investment promotion agencies.
For businesses considering investment, expansion or restructuring in the Philippines, the update is worth reviewing closely. The new SIPP widens the range of sectors eligible for incentives and signals where government approvals are likely to concentrate over the next three years.
What the new SIPP covers
The 2026-2028 SIPP sharpens the focus of its Tier III category, expressly naming artificial intelligence, quantum technology, cybersecurity and biotechnology among its frontier priorities. Earlier plans grouped several of these under broader research and development classifications, so the change lies in the more deliberate signalling of where higher-value, innovation-driven investment is being invited rather than in the creation of a new tier.
The plan also names manufacturing, agriculture, services, infrastructure, logistics, healthcare and energy among its wider priority activities, alongside related future-oriented areas such as critical minerals, green metals and renewable energy technologies. Officials have also noted that this is the first cycle in which the SIPP operates alongside the CREATE MORE Act, which introduced its own enhancements to the incentives regime.
Investment approval targets for 2026-2028
Alongside the sector expansion, officials have set a combined target of PHP 4.5 trillion in investment approvals across all investment promotion agencies, including the BOI and the Philippine Economic Zone Authority (PEZA), over the 2026-2028 period. This works out to an annual goal of roughly PHP 1.5 trillion.
The target follows a strong first half for the BOI, which approved PHP 461.84 billion in investments between January and June 2026, an increase of 21% on the same period last year. Taken together, the figures suggest the SIPP is functioning as an active operating framework rather than a policy document sitting in reserve, and that approval activity is likely to remain a live consideration for businesses assessing entry timing.
What businesses should watch next
The general policies and specific guidelines that will govern how the new Tier III categories are assessed in practice are still being finalised. The BOI has indicated these implementing guidelines are expected within the third quarter of 2026.
Until they are published, the core elements of the plan, namely the priority tiers and the sectors named within them, are already settled and provide a reasonable basis for early planning. Businesses considering a new venture in one of the newly added sectors should watch for the release of the implementing guidelines, as these will set out the specific eligibility and application requirements once finalised.
Conclusion
The 2026-2028 SIPP widens the Philippines’ incentive regime to cover AI, quantum technology, cybersecurity and biotechnology, alongside a combined investment target of PHP 4.5 trillion across the country’s promotion agencies. For businesses in these sectors, the practical question now is one of timing and structure rather than eligibility in principle, since the sectors themselves are confirmed even while the implementing guidelines are pending. Reviewing project scope and structuring decisions ahead of the Q3 guidelines is likely to leave businesses better placed to register once the detailed rules are published.
