Investments approved by BOI reached P61.94 billion in the first three months of the year, up by 13 percent from the P54.62 billion generated in the same period last year.
The investment approvals were generated from 73 projects from various sectors and are expected to create at least 12,841 in new jobs when these projects are fully operational. The increase in approved investments can be attributed to big-ticket energy related projects which recorded the largest share of investment commitments in the three-month period at P29.34 billion or 47 percent of the total approved investments. This figure is 113 percent higher than the P13.759 billion energy-related investment projects recorded in the same period last year.
The Netherlands took the lead as the country’s top investors in the first quarter of 2016 with P5.95 billion, accounting for 70 percent share of the total investments, followed by the United States of America with P604.54 million (7 percent share); United Kingdom with P505.49 million (6 percent share); Singapore with P294.13 million (3 percent share); and China PROC with P141.64 million (2 percent share).