Registered commitments to the Board of Investments (BOI) more than doubled as of June propelled by infrastructure.
BOI managing head Ceferino Rodolfo in a webinar said a rebound in investments is expected in 2021 and will be fuelled by the following strategic projects the 60,000-kilometer nationwide fiber optic network nationwide, manufacturing support facilities, a third a telecom player, and satellite-based connectivity solutions with high-degree local manufactured content.
“In the first half of 2020, our record shows that we are 112 percent higher in terms of approved investments compared to the same period last year. Most of these investments have gone to infrastructure, energy, and transport–very important sectors when you look at the modernization of the Philippine economy,”
Rodolfo told the webinar hosted by the Department of Trade and Industry and the Philippine embassy in Washington DC on July 1.
Rodolfo credited the Philippines’ solid economic fundamentals for cushioning the impact of the pandemic on the country’s recovery efforts.
