The Board of Investments (BOI) is targeting to increase investment approvals this year in hopes of breaching the P1 trillion mark.
Trade Secretary and BOI Chairman Ramon Lopez said the agency is eyeing a 10 percent growth in investment approvals this year from the P907.2 billion projects it had registered in 2018.
Lopez noted that it can still adjust upward the growth target for this year if a big-ticket project will register with the board.
“We can even upgrade it later. But for now, conservatively 10 percent, just like what we conservatively targeted P680 billion last year,” Lopez added.
“We can even upgrade it later. But for now, conservatively 10 percent, just like what we conservatively targeted P680 billion last year.”
Last year, the BOI exceeded its P680 billion target approvals and 10 percent growth target. Actual investment pledges in 2018 rose 47.1 percent from 2017’s commitments.
The trade chief also stressed that the investments that came in last year would help improve the country’s balance of trade, making it favorable to the Philippines.
“Investments that came in last year would help improve the country’s balance of trade, making it favorable to the Philippines.”
Aside from improving the trade balance, the trade head noted that these investments will create quality jobs for Filipinos.
