News Formal

BOI raises 2023 investment target by 50% to P1.5T

  • 📰 inquirerdotnet
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 86%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

The BOI revised its target investment approvals this year to P1.5 trillion, 50 percent higher than what was initially set, banking on its strong performance at the start of the year and the outstanding volume of investment leads for the remainder of 2023.

Last week, it said its total investment approvals had already reached P414.3 billion as of Feb. 9, just six weeks from the start of 2023.The BOI is coming from a strong performance last year when it was able to arrest a two-year decline, approving a total of P729 billion worth of investments, which is equivalent to an 11- percent growth from the P655 billion registered in 2021.Approved investments stood at P1.02 trillion in 2020 and at P1.14 trillion in 2019.

The bulk of these foreign investment pledges were from Germany, totaling P157 billion. The Netherlands followed with P2.7 billion, Japan with P524 million, the United States with P509 million and the United Kingdom with P194 million.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Pascual raises BOI’s 2023 investment target to P1.5TTrade Secretary Alfredo Pascual has raised the investment registration target of the Board of Investments (BOI) for 2023 on the back of a robust pipeline of approvals and the pledges fetched during President Ferdinand Marcos Jr.’s foreign travels.
Source: gmanews - 🏆 11. / 68 Read more »