Investments registered with the Philippine Board of Investments (BOI) doubled in the first six months of 2016, reaching P186.51 Billion, or higher by 103% from the P92.02 billion posted in the same period last year.
As the numbers already cover May and June, the growth is indicative of continued investor confidence as the country transitions to the Administration of President Rodrigo Duterte. “Sustained impressive investment performance validates the announced economic policy direction of the new administration” said Trade Secretary Ramon Lopez. BOI-approved investments in June 2016 grew by 254% compared with same month of the previous year. Secretary Lopez further said, “The challenge is ensuring that these investments benefit the poorest of the poor. The administration will be embarking on measures to make investments more inclusive through, among others, providing linkages with Micro, Small and Medium Enterprises (MSMEs), to the agricultural sector, and to the marginalized geographic regions.”Continue reading