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The Omnibus Investments Code (OIC), through tax incentives and other benefits, encourages investments in preferred areas of economic activity specified in the Investment Priorities Plan of the Philippine Government (IPP). The current 2017 Investment Priorities Plan is the current IPP. 


Qualified enterprises that will engage in preferred areas of investment may register with the Board of Investments (BOI) to avail of incentives.


In general, only Filipino citizens or corporations that are organized in the Philippines and that at least of the outstanding capital stock entitled to vote of which corporation is owned and held by Philippine nationals, can register with the BOI. 

An investor that does not meet the said nationality requirement may still register under the IPP provided that:

  1. It will engage in a pioneer project;

  2. It obligates itself to attain the status of a Philippine national within thirty (30) years from the date of registration or within such longer period as the BOI may require; and

  3. The pioneer area it will engage in is one that is not within the activities reserved by the 1987 Philippine Constitution or other laws of the Philippines to Philippine citizens or corporations owned and controlled by Philippine citizens.


Under the OIC, an enterprise may apply for registration either as a pioneer or non-pioneer enterprise. A “pioneer enterprise” is a registered enterprise: (i) engaged in the manufacture, processing, or production, and not merely in the assembly or packaging of goods, products, commodities, or raw materials that have not been or are not being produced in the Philippines on a commercial scale; or (ii) using a design, formula, scheme, method, process, or system of production or transformation of any element, substance, or raw materials into another raw material or finished goods that are new and untried in the Philippines; or (iii) engaged in the pursuit of agricultural, forestry, and mining activities and/or services, including the industrial aspects of food processing whenever appropriate, predetermined by the BOI, in consultation with the appropriate department, to be feasible and highly essential to the attainment of the national goal, in relation to a declared specific national food and agricultural program for self-sufficiency and other social benefits of the project; or (iv) producing non-conventional fuels or manufacturing equipment that utilizes non-conventional sources of energy or using or converting to coal or other non-conventional sources of energy in its production, manufacturing, or processing operations. Provided that, the final product in any of the foregoing instances involves or will involve substantial use and processing of domestic raw materials, whenever available, taking into account the risks and magnitude of investment.



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