THE Board of Investments (BOI) reported high investment confidence in the country with P2.36 trillion in approved investments from July 2022 to April 2024.
“So far po, from 2022 up to April, ang ating generated investments po from July 2022 to April 2024, we have a total of 2.368 trillion pesos of generated investments. So, that is comprising 157 projects with… or equivalent to 42 billion worth of investments. Yes, dollars po siya, 42 billion worth of investments,” BOI Director Sandra Recolizado said during a news forum in Quezon City on Saturday.
“So, iyon po ‘yung na-generate na natin na investments since July 2022. Ito lang po iyong BOI ha, hindi pa po kasama dito ang PEZA, ang Subic at Clark at iyong iba pa pong investment promotion agencies,” she said.
Recolizado said although there were reservations on the slow entry of foreign investments in the first quarter, the investment climate can pick up because the year is just starting and there are three remaining quarters for BOI investment approvals, as well as other investment promotion agencies.
The country’s foreign direct investment (FDI) from October to November 2023 was a good indicator after it posted 9.59 percent increase, said the BOI official.
“So, para sa amin, good indicator ito ng realized investments kasi iyong commitment, nata-transform siya sa realized investments at nari-reflect as FDI. So, four consecutive months na po na increasing ang FDI natin,” she said, noting it reflects high investors’ confidence for the Philippines.
“Iyong November to December, nag-increase po ang FDI by 30 percent. Iyong sa January 90 percent. And then February 30 percent; cumulative growth rate po, comparison ng January to February 2023 and January/February 2024, mayroon tayong 48 percent growth rate.”
Recolizado also mentioned BOI’s current thrust to attract more investment such as the conduct of outbound missions targeting countries and companies for the country’s specific sectors.
The BOI has been focusing on the Philippines’ priority sectors with a goal of attaining strategic positioning to develop or promote the nation as the strategic regional hub for smart and sustainability-driven industries.
Among those on the priority list are electric vehicles, renewable energy, smart manufacturing, smart agriculture, semiconductors and electronics, data centers, telecom infrastructure and cybersecurity, Recolizado said.
And aside from outbound missions, the BOI is also conducting business fora to capture investors’ interest, she added.
“So, iyon po basically iyong ginagawa natin, iyong ginagawa rin po ni President, (Ferdinand R. Marcos Jr.), iyong mga presidential visits po niya, kasi ang number one salesman po talaga ng Philippines is the President,” she said.
“So, para po sa BOI, iyong mga presidential visits are also a good way to promote the Philippines as an investment location.”
