STEEP INCREASE. Investments registered with the BoI and the PEZA rose by 189 percent during the first five months, from P90 billion last year to P300 billion. (photo: www.cirtekholdings.com)
The value of investments registered with the Board of Investments (BoI) and the Philippine Economic Zone Authority jumped 189 percent to P259.94 billion in the first five months, from P90 billion in the same period last year.
According to data from the Department of Trade and Industry, investment pledges at the BoI hit P191.35 billion in the January-May period—a 338-percent surge from the previous year’s P43.65 billion.
Investment commitments at the Peza, on the other hand, rose 48 percent as of end-May, to P68.59 billion from the P46.35 billion reported in the same period last year.
As of end-May, a total of 390 projects were approved by the two investment promotion agencies.
Once fully operational, the projects are expected to generate 74,266 jobs.
The manufacturing sector is still the top source of investment pledges for both the BoI and Peza, with total commitments in the sector reaching P120.79 billion—439 percent better than the P22.41 billion posted the previous year.
Commitments in the electricity, gas, steam and air conditioning supply sector hit P70.17 billion, while those in the real estate activities category hit P51.77 billion.
The administrative support and service activities sector contributed another P5.55 billion, the accommodation and food service activities industry an additional P3.21 billion, the mining and quarrying sector another P2.3 billion, and the water supply, sewerage, waste management and remediation sectors accounted for an additional P2.01 billion in the first five months.
Bulk of the registered investments came from domestic investors, with total commitments reaching P224.57 billion, or 86 percent of the pledges recorded from January to May.
The balance of P35.37 billion came from various foreign investors, led by the Netherlands, with P7.44 billion in total registered investments in the first five months.
American investors contributed another P7.13 billion in investment pledges, while Japanese firms added P6.45 billion to the mix.
The Board of Investments and the Philippine Economic Zone Authority also had P3.79 billion in investment commitments from South Korean investors, P1.3 billion from Singaporean firms, and P1.12 billion from British groups.