President Duterte OKs 2020 Investment Priorities Plan

President Duterte approved 2020 Investment Priorities Plan.

President Rodrigo Duterte on Wednesday had approved the 2020 Investment Priorities Plan as the country aimed to overcome the impact of the pandemic.

This, as President Duterte signed the plan on Wednesday, according to Memorandum Order No. 50 s. 2020.

President Duterte Investment Plan
Photo Source: GMA News Online

High on the government’s investment agenda were activities related to the fight against the COVID-19 pandemic including the production of medical supplies and provision of services such as but not limited to hospitals and quarantine facilities, health waste treatment and disposal, crematoriums, test facilities, and laboratories,

The government also supported investments in manufacturing activities, fishery and forestry, agriculture, mass housing, telecommunications, infrastructure and logistics, energy, and environment or climate change-related projects, among others.

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For the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), the priority investment areas for 2020 to 2022 include the following: agriculture, agribusiness, aquaculture and fishery, export activities, basic industries, industrial service facilities, infrastructure and services, engineering industries, and tourism, among others.

You can read the full text of Memorandum Order No. 50 s. 2020 below:

Data released last week by the Philippine Statistics Authority (PSA) showed that the gross domestic product (GDP) had contracted by 11.5 percent in the third quarter, which Presidential spokesperson Harry Roque said that it was an improvement from the record of 16.9 percent contraction in the second quarter.

The government expected the economy to grow between 6.5% and 7.5% in 2021.

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