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Investment Priorities Plan (IPP) The measures for qualified investments include income tax holiday of up to six years as financial incentive but also non-fiscal incentives such as the permission to employ foreign nationals and the simplification of customs procedures. According to the "Executive Order 232" the government waives the signature bonus on the first project to reduce the pre-operating cost burden on the solar contractor. Payment of production bonus is only applied after the project has fully recovered its pre-operating expenses. Furthermore, solar developers are allowed to charge the cost of assessment, field verification and feasibility studies of either sites to its current commercial projects. The government also assists developers in obtaining all applicable fiscal and non-fiscal incentives, including registration as a pioneer industry under the "Board of Investments" (BOI) and securing of access to lands where solar resources are to be harnessed. www.us-asean.org/Philippines/2004_IPP.pdf Enabling Private Sector Participation in the Exploration, Development, Utilization and Commercialization of Ocean, Solar, and Wind Energy Resources for Power Generation and Other Energy Uses The policy aims to accelerate the exploration, development, utilization and commercialization of renewable energy resources such as solar energy. The long-term goal is to provide the Philippines self-sufficiency in energy and possibly surpluses for export despite high energy demand due to rapid economic growth. |
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