Despite the pandemic, the Board of Investments (BOI) is still expecting to sustain its P1 trillion investment generation level next year and growth in exports albeit at a slower pace. Trade and Industry Secretary and BOI Chair Ramon Lopez said that the agency is still seeing “significant inflows.”
BOI investment approvals already reached over $15 billion for the first three quarters of the year. On the other hand, investment promotions agency Philippine Economic Zone Authority (PEZA) also registered a 43 per cent increase in investments in the export-oriented IT-BPM industry.
The Trade department also has 73 target investment leads that they’ll invite directly, coming from the US, Malaysia, Japan, China, Taiwan, and Europe.