The Board of Investments (BOI) is poised to exceed its P1.5-trillion target this year, according to Trade Secretary Alfredo Pascual, BOI chairman.
Pascual said the agency to date has attained P800 billion in investment registrations, or more than half its target.
Pascual earlier raised the target to P1.5 trillion from P1 trillion, noting this is the best stimulus to continue wooing investors.
Pascual said of the 130 investment leads valued at $71 billion generated the past year, 16 projects worth $1.2 billion have so far committed with BOI and the Philippine Economic Zone Authority.
Pascual said priority sectors are still in electronics and semiconductors, the country’s biggest exports as well as renewable energy (RE).
“Our transition to green energy is a major magnet.
Investment prospects are in RE floating offshore wind and solar on Laguna de Bay. Those are major attractions of FDIs (foreign direct investments) from Europe, the United States and others,” he said.
The Philippines, he said, is also looking at investments in small nuclear reactors.
