The Department of Trade and Industry (DTI) registered P1.8 trillion investments in 2024, up 25 percent from P1.44 billion registered the year before as energy projects and ecozone high-growth industries attracted greater investor interest.
The Board of Investments (BOI) recorded P1.62 trillion of investments, exceeding its initial target of P1.5 trillion set at the beginning of 2024. The level is higher by 28.57 percent than the P1.26 trillion registered in 2023.
The Philippine Economic Zone Authority (PEZA), meanwhile, posted P214.17 billion in investments, which surpassed its P200 billion target for the year. The level is up 22 percent from P175.71 billion registered in 2023.
“As we approach 2025, we are determined to build on this positive momentum. We will continue to refine and implement forward-looking policies that attract investments in these key industries, ensuring that the Philippines remains a prime destination for innovation and growth,” DTI Secretary Cristina Roque, who is also chair of the board of BOI and PEZA, said.
Apart from fueling job creation, such investment will also drive innovation, she said.
PEZA’s focus on developing and expanding its ecozones, attracting high-growth industries and providing world-class support services to investors solidified the Philippines’ position as a premier destination for foreign direct investment, she said.
As of November, ecozone FDIs accounted for more than half of total registrations, PEZA reported, without providing details.
Investments at the BOI, on the other hand, were led by projects in the energy sector.
Based on available data, the sector attracted P1.35 trillion in the first 11 months of 2024.
The DTI did not provide the full-year breakdown of the investments figures.
“Our commitment is to create an environment where businesses thrive, sustainability is prioritized, and economic opportunities benefit all Filipinos,” Roque said.
