TRADE Secretary Alfredo E. Pascual expects the Board of Investments to hit its P1-trillion investment target for 2023 following “serious interest” from foreign investors.
Mr. Pascual said the BoI could hit 80% to 90% of the target before the middle of the year as the IPA is still following up on other investment leads. “The increase in investments proves that the government’s promotional visits abroad led by no less than the President himself, are working as a growing number of investors from around the globe, from Southeast Asia, the US, Belgium, China, and most recently Japan, have shown strong interest in putting in more investments into the country,” he added.The BoI accounted for 76% of the P927 billion worth of total IPA foreign and domestic approved investments in 2022.
The BoI said the Western Visayas led the regions in investment as of Feb. 9 with P293.3 billion, followed by Calabarzon with P111.7 billion, Eastern Visayas P3.5 billion, Central Luzon P3 billion, and the National Capital Region P783 million.
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