INVESTMENT approvals by the Board of Investments surged to P950 billion in the first six months of 2024, a result said to be the highest six-month tally in the agency's 57-year history.The investment pledges — 36 percent higher than the P698 billion recorded a year earlier — moved the BoI closer to achieving the 2024 target of P1.5 trillion approved investments, Trade Undersecretary and BoI managing head Ceferino Rodolfo said on Thursday.
He also cited efforts by other government offices such as the Trade, Energy and Transportation departments to facilitate permits and establish needed logistics and infrastructure.Majority of the pledges were from Filipino investors and mostly comprised renewable energy and power projects. Domestic investments amounted to P613 billion while foreign investments totaled P287 billion.The projects are expected to create over 13,800 jobs.
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