Trade Undersecretary and BoI managing head Adrian Cristobal Jr. said the new investments plan, which had been reviewed and changed on an annual basis, would now cover three years or until 2016. The IPP lists sectors and economic activities that are eligible for fiscal incentives and is based on the recommendations from relevant government agencies and the private sector.

"You've got a very strong domestic market, and then you have the overseas Philipino population. A lot of their remittances go into real estate investment."