Investment approvals top 2023 total as of mid-Sept

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Approvals,Top,2023

APPROVED investment pledges have already surpassed the 2023 total, the Board of Investments (BoI) said on Monday, reaching P1.35 trillion as of mid-September.

APPROVED investment pledges have already surpassed the 2023 total, the Board of Investments said on Monday, reaching P1.35 trillion as of mid-September.This was higher than 2023's full-year tally of P1.26 trillion and also close to double the P741.98 billion approved in the same month last year.The energy sector continued to account for the bulk of investment approvals with a share of around 95 percent or P1.29 trillion.

'The keen investment interest from both local and foreign investors will propel long-term economic progress and position the country as a global leader in strategic investments.'Local companies remained the top source of investments, accounting for P1.01 trillion of total approved pledges. This was a 221 percent increase from the same period in the previous year.Foreign investments, meanwhile, constituted P341.78 billion.

 

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