Question & AnswerQ&A (LETTER OF INSTRUCTIONS NO. 706)
Letter of Instructions No. 706 approves the project listings in the Eleventh Investment Priorities Plan, Ninth Export Priorities Plan, Fourth Public Utilities Priorities Plan, and First Agricultural Investment Priorities Plan, subject to conditions recommended by the Investment Coordination Committee and embodied in NEDA Resolution No. 9, series of 1978.
The letter is addressed to the National Economic and Development Authority (NEDA), the Board of Investments, and all other concerned entities.
The Eleventh Investment Priorities Plan, Ninth Export Priorities Plan, Fourth Public Utilities Priorities Plan, and First Agricultural Investment Priorities Plan.
The plans are designed to identify priority projects that should be promoted and supported for economic development in sectors such as agro-based industry, mining and mineral processing, metal-based industry, chemical-based industry, public utilities, and agriculture.
The sectors include agro-based, mining and mineral processing, metal-based, and chemical-based sectors.
Projects include processed agricultural products, mining and mineral processing products, chemical-based products, metal-based products related to manufacturing and electronics, and other export-oriented industries.
Projects related to inter-island shipping, electric utilities, utilities drawing power from the National Power Corporation, utilities generating own power, and utilities based on indigenous energy resources.
Projects include cattle and carabeef, hogs, goats, poultry, aquaculture, fish products, dairy, mungbeans, cacao, rice production and processing, feed grain production, certified and hybrid seeds, livestock and poultry breeders, cotton growing, cassava production, spice production, tree farming, abaca, coffee production, tractor pool services, irrigation, and pest and disease control.
The letter was signed by Ferdinand E. Marcos, then President of the Philippines.
The approval of the investment priority plans guides government agencies in prioritizing projects for development incentives, economic planning, and investments, thereby influencing policy implementation and resource allocation.