APPROVED INVESTMENTS UP 28% IN JAN-APRIL – BOI

INVESTMENTS approved by the Board of Investments (BoI) increased by 28 percent in said on Thursday.

In a statement, Trade Secretary and BoI Chairman Ramon Lopez said the “strong macroeconomic fundamentals and the continuous policy reforms sustained the increase of investments in the country.”

“The additional projects registered in April may be moderate, but over the coming months we [expect that] more investors will continue to come in and make up for the shortfall,” he added.

“We also expect that foreign direct investments (FDI) will pick up, as its outlook is always long-term, which will generate more jobs and business opportunities,” Lopez said.

According to Trade Undersecretary and BoI Managing Head Ceferino Rodolfo, among those approved are Philippine Airlines Inc.’s (PAL) six air-transport projects worth P19.05 billion and MWM Terminals Inc.’s P5.2-billion, publicprivate partnership (PPP) project called the Paranaque Integrated Terminal Exchange on Coastal Road in Pasay City.

“These six projects by PAL alone indicate [that] there is strong passenger traffic demand. [ O] nce operational, it will reenergize the tourism industry, especially when Boracay reopens before the end of the year,” Rodolfo said, referring to the famed island in Aklan province that has been closed to tourists for rehabilitation since April 26.

The power/reneweable energy sector had the biggest share of the investments, with P104.3 billion from January to April, a 401-percent jump from P20.8 billion a year ago.

Transportation and storage had P37.5 billion; manufacturing, P15.9 billion; water supply, sewerage, and waste management, P13.9 billion; and real estate, P12.7 billion.

Investments in the countryside in the period registered P165.5 billion, or 84.6 percent of the total, while Metro Manila had the remaining 15.4 percent.