BOI investment approvals hit ₧698B in H1, up 203% | Andrea E. San Juan

  • 📰 BusinessMirror
  • ⏱ Reading Time:
  • 49 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 59%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Trade and Industry Secretary Alfredo E. Pascual,who chairs the BOI, said the Philippines is poised to become Asia’s “premier” investment destination as the BOI just approved P698 billion worth of investment approvals for the first half of 2023. Know more:

TRADE and Industry Secretary Alfredo E. Pascual, who chairs the Board of Investments , said the Philippines is poised to become Asia’s “premier” investment destination as the BOI just approved P698 billion worth of investment approvals for the first half of 2023, a 203-percent growth from the P230 billion recorded in the same period a year ago.

Data from the BOI showed that foreign investment approvals accounted for 60 percent of the total investment approvals pie, which is equivalent to P423 billion, a 52-fold increase from just P7.89 billion in the first half of 2022. P275 billion, a 24-percent increase from the P222 billion recorded in the same period last year.

In terms of regional dispersion, meanwhile, investments in Western Visayas ranked first at P306 billion, with Calabarzon at second with P164 billion. Ilocos Region at P55.5 billion, Central Luzon at P28.7 billion, and National Capital Region at P25.6 billion completed the top five regions. Moreover, five transportation and storage projects amounting to P21.3 billion came in; along with 21 projects in manufacturing with P16.1 billion, and 11 in agriculture with P6.4 billion.

The DTI said the increase in telecommunications infrastructure in unserved/underserved areas will provide more Filipinos access to the internet.

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:

 /  🏆 19. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Our ace in the global maritime industry | BusinessMirror EditorialThe Philippines relies on shipping to link more than 7,000 islands. Shipping also connects the country to international commerce and trade. Our maritime industry, which employs hundreds of thousands of Filipinos, is one of the most critical sectors of the economy, and a vital component in attaining socioeconomic progress and…
Source: BusinessMirror - 🏆 19. / 59 Read more »