Registered BOI investments already hit 40% of full-year target in January

Metro Manila (CNN Philippines, February 20) — Investments registered with the Board of Investments (BOI) already amounted to ₱414 billion in January as President Ferdinand Marcos Jr.’s state visits gained strong traction from investors, the trade chief said.

“Just in January of this year, it has already achieved about 40% of the target. It has registered ₱414-billion worth of investments that will be granted incentives,” Trade Secretary Alfredo Pascual told CNN Philippines’ The Exchange.

He noted the BOI has set a target of ₱1 trillion in investments for 2023.

“Sixty percent to go and we still have 10 more months,” Pascual said.

The DTI earlier said the Philippines has amassed $63 billion in business pledges from Marcos’ nine overseas trips.

The sectors expected to receive the highest investments include the renewable energy market, infrastructure, manufacturing, and information technology and business process management.

“The important thing is, these investments will stimulate the economy,” he said.

Pascual said the government is “not resting” and is actively pursuing these commitments.

“We’re doing our work in terms of following up on these prospects. We are running after the proponents,” he said.