MANILA, June 9 — The Board of Investments (BOI) approved Php 174.5-billion worth of investments in the first five months of the year, up 25 percent from Php137.3 billion in the same period in 2016.<\/p>\n
In a statement Friday, BOI said the Php174.5-billion investments came from 218 projects registered with the country\u2019s leading investment promotion agency.<\/p>\n
Number of projects registered with the BOI from January to May this year surged 70 percent from 128 projects last year.<\/p>\n
These investments also doubled the number of jobs generated in the said period.<\/p>\n
BOI reported that a total of 51,847 jobs will be created from these projects registered during the first five months of 2017 compared to last year\u2019s figure of 25,869 jobs.<\/p>\n
By sector, largest investment approvals were in real estate with total approved investments of Php68.74 billion.<\/p>\n
This was followed by construction and public-private partnership projects at Php48.47 billion; energy projects at Php28.31 billion; manufacturing projects at Php15.75 billion; and transportation and storage projects at Php9.59 billion.<\/p>\n
\u201cWe are seeing a bullish first full-year local and foreign investment inflow with levels to reach at least Php500 billion from Phb441 billion achieved in 2016,\u201d BOI Managing Head Ceferino Rodolfo said.<\/p>\n
Moreover, top foreign investors in the country in January to May this year were from Singapore, amounting to Php2.12 billion; United States of America with Php483.25 million; Netherlands with Php445.22 million; Denmark with Php320.84 million; and India with Php207.35 million.<\/p>\n
Meanwhile, BOI Chairman and Trade Secretary Ramon Lopez stressed that the Philippines remains a destination for global investments despite the recent developments in the country such as the clash in Marawi City and the shooting and fire incident at the Resorts World Manila.<\/p>\n
Lopez said these were \u201cisolated cases\u201d and the government was in firm control of the situations.<\/p>\n
\u201cIt\u2019s business as usual in the country,\u201d Lopez said noting the country\u2019s sound macroeconomic fundamentals of the country and sustained investors\u2019 confidence. (Kris M. Crismundo\/PNA)<\/p>\n","protected":false},"excerpt":{"rendered":"
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