Renewable energy dominates investment interest in the Philippines, comprising the majority of projects in the Board of Investments (BOI) tracked investment leads, which surpassed P2 trillion.
According to BOI executive director Ma. Corazon Halili-Dichosa, the agency recorded P2.06 trillion in investment leads covering 331 projects as of January, with renewable energy emerging as the primary sector attracting investments.
During the International Tax and Investment Conference, Dichosa highlighted that renewable energy, manufacturing, and data centers are among the top preferences, with renewable energy projects leading the pack.
In 2023, BOI approved projects worth P1.26 trillion, marking a significant increase of 73% from the previous year’s P729.1 billion.
Notably, the renewable energy and power sectors secured the largest share of BOI-approved investments last year, totaling P987.12 billion, reflecting a remarkable surge of 141% from 2022.
Furthermore, earlier this year, BOI announced the endorsement of several renewable energy projects for green lane processing. Green Lanes aims to streamline and expedite permit and license application processes for strategic investments in the Philippines.
Source: PhilNews24 | March 4, 2024
