Investment growth expected

INVESTMENTS are projected to increase in the coming years due to the recent key policy rate cut and the anticipated enhancement to the Philippines' tax incentive, a Cabinet official said.Finance Secretary Ralph Recto said on Tuesday that the anticipated Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy bill could boost investment growth in the country.

We expect rates to continue to go down this year and next year, not only in the Philippines but globally, and having said that, expectedly, we would be able to expect more investments in the coming years ahead,' he added.Bangko Sentral ng Pilipinas' policymaking Monetary Board has already reduced key policy rates by 25 basis points, bringing the total to 6.25 percent.Recto said this would help attract more investors as they expect rates to go down further in the coming years.

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Investment pledges cleared in Q2 up 220.7% to P189.5 billionINVESTMENT pledges approved by the country’s investment promotion agencies more than tripled in the second quarter of 2024, according to the Philippine Statistics Authority (PSA). The data showed that investment pledges reached P189.5 billion, a 220.7-percent growth from the P59.09 billion total foreign investments in the same quarter of 2023.
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