INVESTMENT pledges in January to April year reached P154 billion, up 31 percent from a year earlier, Board of Investments (BOI) Managing Head Ceferino Rodolfo said on Tuesday.
AN estimated 46,018 jobs could be generated upon realization of the pledges come to fruition, up 181 percent from 16,366 in the same comparable period last year. The number of projects totaled 194 from 101, a 92-percent increase.
“From January 1 until as of today, April 25, the value of projects registered with the BOI amounts to P153.974 billion, compared with P117.264 billion recorded in the same period last year,” Rodolfo said during the press conference for the BOI Guinogulan Awards.
With investors staying confident about the country’s macroeconomic fundamentals and the early approval of the 2017 Investments Priorities Plan (IPP), the BOI expects a more robust if not unprecedented growth this year.
Earlier, the BOI said the number of registered projects reached 122 in the first quarter of the year, up 67 percent from 72 a year earlier.
The projects are expected to generate 36,115 new jobs once operational, a 181 percent increase from 12,841 generated in the first quarter of last year. The value of these investment projects totaled P67.973 billion, up 10 percent from P61.938 billion.
Rodolfo noted the investments were largely in power, infrastructure, manufacturing and real estate projects, including the Cavite-Laguna Expressway and renewable energy projects in Negros Occidental, Pangasinan, Bulacan and Isabela.
In manufacturing, the projects covered chemicals, plastic and rubber products.
In April alone, the registered pledges reached P9.9 billion from P3.5 billion, a 180-percent increase driven largely by power and infrastructure projects, Rodolfo said.
Earlier, Trade Secretary Ramon Lopez said investors were optimistic and confident about their business operations in the country.
“These positive developments clearly indicate the continuously growing investor confidence in the country’s sound economic policies, macroeconomic fundamentals and attractive business environment,” he said.
“We are prioritizing the promotion of quality investment projects, which is defined in terms of the number of jobs to be generated, its social relevance and impact on the quality of life our countrymen, as in the case of mass housing,” he added.
Meanwhile, Guinogulan which literally means “Lord of Golds” is a brand of citation to recognize BOI-registered business enterprises (RBEs) that show excellence and significant contribution to the country’s economic growth through capital infusion, employment generation, introduction of new technologies and innovation, implementation of community relations, economic linkages and adoption of inclusive business models in their operations.
Guinogulan is the best grade of native gold at 22 carats, ideal for jewelry and ornaments. It is energizing and powerful as it conducts heat and electricity. Gold is tenacious and in its purest form, withstands tarnishing even with the passage of time, according to the BOI.
“All these characteristics are metaphoric to the Awards as the recipients exemplify stability, flexibility and adaptability in the face of changing economic conditions. They are current symbols of prestige, commitment and responsibility as they believe in the strength and potential of the Philippines to meet challenges of global competition,” Rodolfo added.