The Philippine government, through a Memorandum Order signed by Acting Executive Secretary Ralph G. Recto on May 21, has approved an updated Strategic Investment Priority Plan (SIPP). This revised plan aims to enhance incentives for key sectors, specifically focusing on agriculture, food production, and high-end manufacturing industries such as shipbuilding. Trade Secretary Ma. Cristina A. Roque emphasized that the SIPP identifies targeted areas for attracting high-value capital, which is expected to lead to job creation and workforce development. The plan categorizes eligible investment activities into three tiers, with higher tiers receiving longer incentive periods, and is aligned with Republic Act No. 12066, also known as the CREATE Act. The Board of Investments is currently developing the specific guidelines for the 2026 SIPP, anticipated for publication in the third quarter, while the 2022 SIPP guidelines remain in effect.