THE Department of Trade and Industry announced on Thursday that two of its investment promotion agencies have surpassed their investment targets for 2024.
“We are pleased to report significant progress in attracting investments this year. These investments will fuel job creation, drive innovation, and foster dynamic economic progress,” DTI Secretary Cristina Roque said in a statement. “As we approach 2025, we are determined to build on this positive momentum. We will continue to refine and implement forward-looking policies that attract investments in these key industries, ensuring that the Philippines remains a prime destination for innovation and growth,” Roque said.
The BOI said the water supply, sewerage, waste management, and remediation sector saw the biggest growth as it surged by 1,540 percent compared to last year’s P992 million.Per the BOI, Filipino companies contributed P1.23 trillion worth of investments, with Calabarzon being the leading recipient with P630.97 billion in investments, followed by Central Luzon and Western Visayas .
Leading the foreign investors was Switzerland, contributing P289.06 billion in approved investments, marking a 770, 263 percent increase from last year’s P38 million. The Netherlands trailed behind with P44.50 billion, while Japan secured the third spot with P14.67 billion.Roque also underscored the success of the BOI’s Green Lane initiative, which has expedited the approval process for renewable energy projects and contributed to the sector’s performance.
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