Investments approved by the Board of Investments (BOI) surged by 14 percent in the first five months of the year, reaching P640.22 billion, mainly driven by domestic firms, according to BOI statements.
This marks the highest-ever figure for this period in the agency’s 57-year history, reflecting sustained investor confidence in the country.
Trade Secretary Alfredo Pascual highlighted that these investments are expected to create 13,871 jobs for Filipinos.
Domestic sources contributed P525.85 billion of the total investments, while foreign investments amounted to P114.37 billion, with Switzerland emerging as the largest foreign investor.
Calabarzon led an investment destination, while the renewable energy sector saw the highest investment share.
Pascual emphasized ongoing efforts to attract more investments and sustain growth.
Source: PhilNews24 | June 18, 2024
