Projects registered with the Board of Investments (BoI) grew by 40 percent in January to July 2017 from a year earlier, the agency reported on Tuesday.
At P294.8 billion compared to P210.4 billion during the same period last year, the BOI said the results underscored the country’s bright investment prospects.
Jobs generated totalled 58,758, up 57 percent from last year, and the number of approved projects also rose by 40 percent to 268.
July 2017 projects were highlighted as these coincided with the first month of the 2017 Investment Priorities Plan’s implementation.
These include the P3.5-billion Alsons hydropower project in Maasim, Saranggani, Repower Energy’s P2.1 billion hydropower project in Maramag, Bukidnon and another P1.5 billion hydropower project in Cabanglasan, Bukidnon, a P455-million corrugated boxes for export project of Smartflute in Carmen, Davao del Norte, and the P179 million Go Hotel in Iligan City, Lanao del Norte.
Committed investments for the month reached P106.8 billion from 32 projects, 347 percent up from the P23.9 billion covering 30 projects that was recorded in July last year.