The Board of Investments approved P1.35 trillion in investments from January 1 to date, up 82% compared to the same period in 2023
This surpassed the total BOI approvals in 2023 of P1.26 trillion
Renewable energy sector projects worth P 1.29 trillion drove growth in BOI-approved investments
This was followed by real estate activities, which registered P20.28 billion in investments; and manufacturing with P12.13 billion
Investments from local companies comprised almost 75% of the total at P1.01 trillion
The Board of Investments (BOI) approved P1.35 trillion in investments from January 1 to September 15 this year, up 82% from P741.98 billion registered in the same period in 2023.
This surpassed the total BOI approvals in 2023 of PHP1.26 trillion, said the Department of Trade and Industry’s lead investment promotion agency in a statement during its 57th founding anniversary on September 16.
“As we celebrate our 57th anniversary, we are more inspired with the strong show of confidence by local and foreign investors in the Philippines that has made it possible for BOI to hit the P1.3 trillion mark in investment approvals,” according to Trade undersecretary and BOI managing head Ceferino Rodolfo.
“This accomplishment highlights both our agency’s unwavering commitment to nurturing a thriving investment landscape and in harnessing our country’s potential to be the prime investment destination for smart and sustainable manufacturing and services,” he added.
Renewable energy sector projects worth P1.29 trillion drove growth in BOI-approved investments.
This was followed by real estate activities, which registered P20.28 billion in investments; manufacturing with P12.13 billion; agriculture, forestry and fishing, with P10.05 billion; and administrative and support service activities, P5.46 billion.
Investments from local companies comprised almost 75% of the total at P1.01 trillion, while the remaining P341.78 billion were from foreign companies, the BOI said.
