President Gloria Arroyo is optimistic of a “brighter” economic growth even after the end of her nine-year term, following the approval of a list of business activities and projects eligible for incentives this year.

Taking pride in how the country has been resilient and better-equipped in face new challenges after surviving the global recession, the President said she also looks forward to “sustained economic growth.”

She said this would continue to translate into tangible benefits to the people.

The 2010 Investment Priorities Plan (IPP) outlined the sectors that could avail themselves of tax perks based on the rules prepared by the Board of Investments (BoI) in a bid to retain and attract job-generating investments in the country.

The IPP, pursuant to Article 29 of the Omnibus Investment Code of 1987, was approved by the President through Memorandum Order (MO) No. 314 last April 30, a few weeks before she steps down in office at noon of June 30.

“By ‘Maximizing Opportunities of a Stronger Philippine Economy’ and with the committed cooperation of the private sector and the government’s resolve to provide a suitable business environment, we can assure the successful implementation of the 2010 IPP and realize the gains of my administration's development agenda,” the President said in a message contained in MO 314.

“The future for the Philippine economy is brighter. I am optimistic and hopeful that with the country's internal strength and resilience, which we have built up, through investments in our country and sound economic policies, we can continue to march towards sustainable growth and bring the benefits of economic progress to every Filipino,” she said.

Mrs. Arroyo said the IPP seeks to generate more investments and more jobs in agriculture, industry, and service sectors to optimize opportunities from the global economic recovery and implementation of international engagements.

The plan has also been made more significant with the addition of green projects that also address the climate change, she added.

Under the 2010 IPP, the government will continue to provide incentives for activities such as agriculture, infrastructure, energy, tourism, health care, mining, export, information and communications technology, among others.

Added to the list of preferred sectors covered by incentives are “green” business activities and disaster management projects.

Crisis-hit companies that have retained or expanded their investments and workforce were also entitled to tax breaks.

Other job saving-creating projects, including micro and small enterprises, were included in the contingency list to recover from the impact of the global financial turmoil. Among the projects not qualified under the micro and small enterprises list are banks, retail businesses, services, small-scale mining, non-agricultural basic consumer goods, and personal care products.