IPA targets set for review after Q1 slowdown

THE Department of Trade and Industry (DTI) will meet with investment promotion agencies (IPAs) to review their investment approval targets after the slowdown recorded in the first three months.

- By Justine Irish D. Tabile

“We are still going to meet regarding that. But we are still really pushing, just like how we normally do,” Trade Secretary Ma. Cristina A. Roque said.

“Even in business, you always try to maintain (targets) or go higher. We do not wait until the last minute for us to really think of what measures to take,” she added.

In the first quarter, seven of the 13 IPAs reported approved investments worth P181.93 billion, down 43.7% from a year earlier.

For 2024, approved investments hit P1.958 trillion, up 32.7%.

Asked if the IPAs can match the P1.958 trillion in investment approvals posted in 2024, Ms. Roque said, “Of course we are hoping for that. I mean, that was what we hit last year, so this year, we should be able to replicate that.”

“We just have to make sure that we get it done. So we will really talk about it,” she added.

She said the IPAs will be evaluating the impact of US President Donald J. Trump’s reciprocal tariffs.

In April, Mr. Trump imposed tariffs on most trading partners, with a 17% duty set for Philippine goods. The reciprocal tariffs have since been suspended until next month, with a 10% rate applying to most countries in the interim.