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Investment approvals hit record P640B

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Investment Notizia

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THE Board of Investments (BoI) approved investments totaling P640.22 billion as of end-May, a result said to be the highest five-month tally in the agency's 57-year history.

THE Board of Investments approved investments totaling P640.22 billion as of end-May, a result said to be the highest five-month tally in the agency's 57-year history.The investment pledges, which were 14-percent higher that the P562.90 billion recorded a year earlier, were overwhelmingly from Filipino investors and mostly comprised renewable energy and power projects, the BoI said.Domestic investments amounted to P525.85 billion while foreign investments totaled P114.37 billion.

Renewable energy and power project approvals totaled P607.47 billion, 20.73 percent more than the previous year's P503.18 billion.The agriculture, forestry and fishing sectors, meanwhile, accounted for P9.56 billion while real estate registered P8.17 billion in approved investments.Transportation and storage sector investments were valued at P4.61 billion while the manufacturing sector attracted P4.36 billion.Financial and insurance activities secured P227.

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