June 24, 2017, 1:14 am
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Investment pledges grow 25%

The Board of Investments (BOI) estimates growth of investments  registered in January to April could have picked up to 25 percent from 10 percent in the first quarter.

Ceferino Rodolfo, BOI managing head, the estimate is based on the pipeline of projects already committed.

These are in construction, infrasturtcure and manufacturing.

According to Rodolfo, the BOI has seen a lot of innovation-led investments especially in manufacturing. 

He cited that in the first quarter a P3-billion investment in battery storage of a company based in Kabankalan, Negros was approved by the BOI.

Some recent projects include a project manufacturing prosthetic legs, customizes shoes as well as garments to be supplied to big name brands in Europe.

Investments in the first three months of the year totaled P67.97 billion, compared to P61.94 billion in the same period last year.

Rodolfo is bullish of prospects for the rest of the year as the BOI finalizes the specific guidelines of the Investment Priorities Plan.

“A lot of projects are waiting for the release of the guidelines,” he said, citing renewed interest in manufacturing.

Among the changes in the IPP include further emphasis on innovation-driven and job-generating businesses; inclusive business for agribusiness and tourism; broadened coverage of manufacturing; information technology (IT) and IT-enabled services for the domestic market and telecommunications services for new market players; environment and climate change-related projects; LGU-initiated PPP projects; drug rehabilitation centers; state-of-the-art engineering, procurement and construction (EPC) services; and the lifting of geographical restrictions for most agriculture and tourist accommodation facilities.
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