BOI H1 investment approvals down 38%

The Board of Investments (BOI) approved 100 projects in the first half of 2014 worth P149.45 billion, 38 percent less than the P240.74 billion posted in the same period last year.

BOI Managing Head and Undersecretary Adrian Cristobal Jr. traced the decline to the drop in power projects to P90.74 billion recorded for the sector in the first half of this year compared with last year’s big-ticket investments in the sector totaling P171.73 billion, as well as an increase in the lower-value mass housing sector.