The Board of Investments has approved over a trillion pesos worth of investment commitments in the first seven months of 2024.In a statement on Friday, the BOI said it secured P1.15 trillion worth of investment pledges from January to July, up 65% from P699 billion in the same period last year.The BOI said it breached the trillion-peso mark after it approved projects in renewable energy and agribusiness, supported by investments from a US equity fund and a major food conglomerate, among others.
We, at the BOI, are committed to continuing the vision of Secretary Pascual for industrialization and the development of innovation- and sustainability-driven industries here in the Philippines,” said Rodolfo.“This milestone was facilitated by revised rules removing nationality restrictions on renewable energy investments,” the agency said.