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MANILA – The Board of Investments (BOI) and the Philippine Economic Zone Authority (PEZA), the country’s major investment promotion agencies, have approved PHP12.82 billion worth of investments for the first two months of the year.
Government data show that PHP7.55 billion investment approvals were from BOI, while PEZA registered PHP5.27 billion worth of projects.
However, these investment approvals were lower by 90.4 percent from January to February 2021 figures amounting to PHP133.24 billion –PHP121.93 billion was approved by BOI and PHP11.31 billion was approved by PEZA.
In terms of employment, registered projects for January to February this year are expected to create 4,847 jobs.
The biggest share was committed to real estate activities at PHP5.12 billion (39.9 percent).
This was followed by electricity, gas, steam and air-conditioning supply with PHP5.09 billion (39.7 percent), manufacturing with PHP1.50 billion (11.7 percent), administrative and support service activities with PHP1.04 billion (8.1 percent), and agriculture, forestry and fishing with PHP0.06 billion (0.5 percent).
In terms of approved foreign investments, Singapore was the biggest source with approved investments amounting to PHP1.32 billion.
This was followed by Japan with PHP310 million; British Virgin Islands, PHP220 million; Liechtenstein, PHP140 million; and the United States, PHP120 million. (PNA)
