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Investment approvals top P1T

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Investment News

Approvals,Top,P1T

APPROVED investment pledges hit P1.15 trillion as of end-July, the Board of Investments (BoI) said on Friday, surging by 65 percent from P699 billion a year earlier.

APPROVED investment pledges hit P1.15 trillion as of end-July, the Board of Investments said on Friday, surging by 65 percent from P699 billion a year earlier.The agency, which is targeting P1.6 billion in approvals this year, said the trillion-peso mark was topped via renewable energy and agribusiness projects and investments from a US equity fund and a major food conglomerate, among others.

'This focus on sustainability, and efficiency is also attracting a wave of foreign investment,' the BoI said.Engagement by other promotion agencies was also said to have led to high-profile registrations by companies such as Optum , Atento, Toyota Motor Philippines and the Macquarie Green Investment Group, and the BoI said that it had supported projects by Collins Aerospace, Dyson and Nitori Holdings Co.

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