In­vest­ments in PH up by 38% from Jan-Aug

Sun.Star Davao - - BUSINESS -

THE Philip­pine Board of In­vest­ments (BOI) re­ported that in­vest­ment projects reg­is­tered with the agency reached P325.8 bil­lion in the first eight months of the year, up by 38.4 per­cent (%) from P235.4 bil­lion in the same pe­riod last year.

Trade Sec­re­tary and BOI Chair­man Ra­mon Lopez said the in­vest­ment fig­ure could ex­ceed the tar­get with in­vestors ex­plor­ing op­por­tu­ni­ties in en­ergy, in­fra­struc­ture and agribusi­ness.

“In­vestors are bank­ing on the con­struc­tion boom as a re­sult of the “Build, Build, Build” in­fra­struc­ture pro­gram of the gov­ern­ment, and to sus­tain this, they are also look­ing at the en­ergy re­quire­ments to get this done,” he added.

Lopez pointed out that among the big­gest projects ap­proved for Au­gust alone were the P14.6 bil­lion wind en­ergy pro­ject of Cur­ri­mao So­lar En­ergy Corp. in Rizal; the P12.5 bil­lion ce­ment pro­duc­tion of South West­ern Ce­ment Corp. in Cebu; and the P777 mil­lion biomass en­ergy plant of VS Gri­pal Power Corp. in Nueva Ecija.

The P763.2 mil­lion low-cost hous­ing pro­ject of 8990 Hous­ing De­vel­op­ment Corp. in Davao City and the P623.5 mil­lion e-com­merce pro­ject of Global Fashion Group rounded out the five big­gest projects.

Ag­gre­gate em­ploy­ment gen­er­a­tion for the Jan­uary to Au­gust in­vest­ment fig­ure reached 62,803, up by 48.8% from 42,214 in the same pe­riod last year. Ap­proved projects reached 299, up by 30% from 230 in 2016.

Trade Un­der­sec­re­tary and BOI Man­ag­ing Head Ce­ferino Rodolfo said, “We al­ready achieved 65 per­cent of our in­tended tar­get for our 50th An­niver­sary this year. We still have a month to go be­fore

the end of the 3rd quar­ter and we have al­ready two-thirds of the tar­get fig­ure. I am con­fi­dent we can eas­ily top P500 bil­lion, if not sur­pass them given the in­flux of in­ter­ested in­vestors to put their money where the ac­tion is.”

Rodolfo said con­struc­tion and PPP projects reg­is­tered al­ready reached P127.7 bil­lion dur­ing the Jan­uary to Au­gust pe­riod, which is a 300% surge from the same pe­riod in 2016.

The Real Es­tate sec­tor re­mained ro­bust with P72.8 bil­lion, up by 113% from P34.1 bil­lion last year. In­vest­ments in man­u­fac­tur­ing con­tin­ued on an up­ward trend with P36 bil­lion in pro­ject ap­provals, up by P20.7 bil­lion in 2016 or a 74% hike. Like­wise, in­vest­ments in agri­cul­ture in­creased by 47.4% to P2.5 bil­lion in 2017 from P1.7 bil­lion in 2016.

JPA

OKASYON. The 5th Okasyon opened yes­ter­day at SMX Con­ven­tion Cen­ter, SM Lanang Pre­mier, fea­tur­ing Davao City's wed­ding, de­but, and other party or­ga­niz­ers, fashion de­sign­ers, and pho­tog­ra­phers, among oth­ers.

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