Agricultural Investment Priorities Plan.
SEC. 4. Agricultural Investment Priorities
Plan.—Not later than the end of March of every year, the Inter-Agency
Committee shall prepare an Agricultural Investment Priorities Plan which shall
list the preferred areas of agricultural ventures deserving of assistance and
incentives taking into account their contributions to the economy and their
measured capacity. Such Plan shall be prepared in correlation with established
long range agricultural and other development plans.
The Committee shall indicate in the Plan the priority of each agricultural
activity to determine the degree of assistance and incentives to be given under
this Decree.
Criteria in Agricultural Investment Priority Determination.
SEC. 5. Criteria in Agricultural Investment Priority
Determination.—No agricultural activity shall be included in the
Agricultural Investment Priorities Plan unless it is shown to be economically,
technically, financially or socially viable after a thorough analysis by the
Committee. The Plan shall specify each type of agricultural crop or activity as
First Priority, Second Priority or Third Priority, taking into account any or
all of the following criteria:
domestic requirement;
worldwide demand for the product;
prevailing and projected world market prices;
technical suitability of the crop or activity to Philippine agricultural
conditions;
innovativeness of the agricultural crop/activity or the technology employed
in the production;
linkages with desirable business activities;
degree of risk involved ;
import substitution;
employment generation; and
other criteria as may be determined by the Committee, such as the crop
zonification plan of the government for a particular area.
Amendments.
SEC. 6. Amendments.—Except for the indicated rate
of preference and the duration of the status of preference, the Committee may,
after due notice and hearing, amend the whole or any part of the Plan.
Publication.
SEC. 7. Publication.—Upon approval of the Plan or upon
approval- of an amendment thereof, the Plan or the amendment specifying and
declaring the preferred area of investment shall be published in at least two
(2) newspapers of national circulation and broadcast nationwide through selected
radio and television programs. All such activities shall be open for application
until the publication of an amendment or deletion thereof.
