BOI hits 40% of its 2023 target in first 40 days of 2023
MANILA, PHILIPPINES — Board of Investments (BOI) Managing Head Ceferino Rodolfo announced that they had already reached 40% of their Php1 trillion (US$18.3 billion) investment target for 2023.
During the Presidential Communications Office (PCO) Forum, Rodolfo said investments registered with the BOI in January and the first nine days of February already reached Php414 billion (US$7.56 billion).
“And if you compare our registered investment project total with last year, we have already reached close to 60 percent,” Rodolfo noted, referring to the Php729 billion (US$13.3 billion) investments approved by the BOI in 2022.
The BOI chief attributed this achievement to President Ferdinand Marcos Jr.’s visits to various other countries.
Rodolfo stated that the visit “created a pipeline of strong interest from investors.”
“We have a healthy pipeline of strong leads, including those generated and further confirmed through investment missions by the secretary and through the presidential visits by President Marcos,” Rodolfo added.
Department of Trade and Industry Secretary Alfredo Pascual previously cited that business missions and presidential visits to various countries have generated strong and tangible interest in the country’s renewable energy sector, particularly in offshore wind power generation projects.
Investors have also shown interest in public utilities, retail trade, and tech start-ups.
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