MANILA -- The Board of Investments (BOI) has approved a total of PHP195.7-billion worth of projects in the January to April period, the investment promotion agency reported Thursday.
Investment approvals in BOI in the first four months of the year increased by 28 percent from PHP153.1-billion worth of pledges in the same period a year ago.
Trade Undersecretary and BOI Managing Head Ceferino Rodolfo cited that Philippine Airlines, Inc.’s six air transport projects were the highest registered projects in April amounting to PHP19.05 billion.
Rodolfo mentioned that the PHP5.2-billion Parañaque Integrated Terminal Exchange, a public-private partnership project of MWM Terminals, Inc. was the largest single project that was approved last month.
“The additional projects registered in April may be moderate but over the coming months, we express confidence more investors will continue to come in and make up for the shortfall. We also expect that foreign direct investments will pick up as its outlook is always long-term, which will generate more jobs and business opportunities,” Trade Secretary and BOI Chairman Ramon Lopez said, on the other hand.
By sector, majority of the investment approvals in January to April were in energy with a total value of PHP165.5 billion.
This was followed by transportation and storage sector with projects amounting to PHP37.5 billion; manufacturing, with investment approvals of PHP15.9 billion; water supply, sewerage and waste management sector at PHP13.9 billion; and real estate at PHP12.7 billion. (PNA)
