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BOI investment approvals hit P1.15 T in 7 months
The Philippine Star
|August 03, 2024
Investments approved by the Board of Investments (BOI) surged by 65 percent to P1.15 trillion from January to July compared to P699 billion a year ago, driven by pledges for renewable energy (RE) projects.
The BOI said yesterday that the approved investments in the sevenmonth period are expected to create 27,207 jobs.
Driving the increase were significant investments in the RE sector in the January to July period including the P297-billion Pakil Pumped Storage Hydroelectric Power project and the P114.7-billion Guimaras Strait Offshore Wind Power projects.
"This milestone was facilitated by revised rules removing nationality restrictions on RE investments," the BOI said.
The approval of major projects in RE and agribusiness last month also enabled the BOI to achieve the milestone.
Dit verhaal komt uit de August 03, 2024-editie van The Philippine Star.
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