Investment pledges with BOI hit P309B

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Investments in the first three quarters of 2013 rose by 25 percent to P309 billion from the P248 billion recorded during the same period last year, the Board of Investments (BOI) said.

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The energy sector posted investment pledges of P250.7 billion from January to September, the largest among the sectors with 80 percent, while the real estate sector came at a distant second with 11 percent, or P34.1 billion.

Investment commitments in the transportation and storage sector got a 3-percent share, or a total of P10.5 billion. The manufacturing sector got a 2-percent share worth P5 billion, while the accommodation and food service sector got a 1-percent share at P4.5 billion.

Total investments from local investors grew by 12 percent to P258.7 billion from P230.5 billion in the same period last year.

The locally owned 400-megawatt (MW) coal plant of Pagbilao Energy Corp. has one of the highest shares of investment pledges among local investors with a share of P 39.9 billion, followed by the P31.9 billion from the 405-MW coal plant of FDC Misamis Power Corp., another locally owned firm.

Also among those with the highest commitment shares are the coal-fired power plants of San Miguel Consolidated Power Corp. in Malita, Davao del Sur (300 MW) worth P25.84 billion, and in Limay, Bataan (300 MW) worth P25.51 billion.

Foreign investments, on the other hand, almost doubled with 185 percent to P51 billion compared to the P17.9 billion recorded during the same period last year.

The United States holds the largest number of investment pledges among foreign investors with P41.7 billion, or an 82-percent share.

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