THE Board of Investments (BOI) expects a 25-percent increase in investments in the first four months of 2017, from a year earlier, Trade Undersecretary and BOI Managing Head Ceferino Rodolfo said on Thursday.
“For the investment performance, the BOI’s prospective is 25-percent growth . . . So, hopefully, by the end of April, we will hit the 25 percent,” Rodolfo said.
Construction, infrastructure, manufacturing and customized shoes are the main drivers of investment.
Earlier, the BOI noted investment pledges climbed by 10 percent in the first quarter on the back of new construction and manufacturing projects.
The value of investment commitments reached P67.97 billion from in Jan to March, up 10 percent from P61.94 billion in the same period last year. The registered projects totaled 122, up 67 percent from 72 projects.
Trade Secretary Ramon Lopez said investors remain optimistic and confident about their business operations in the country.
The registered projects are expected to generate 36,115 new jobs once operational, an increase of 181 percent from 12,841 jobs generated in the first quarter of last year, Lopez added.
“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.
“What further makes the Philippines attractive are plans of the administration to ramp up infrastructure spending that is seen to increase economic activities, the country’s demographic dividend and high-skilled, fast-learner workforce, and the strategic location of the country, which can serve as a gateway to the rest of the global market,” Lopez 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.