Philippines remains the preferred global investment destination
Data released by the Board of Investments (BOI) showed that the Philippines remains a preferred global investment destination for investors. From January to May of this year, the number of investments in the country rose by 70%, from 128 projects to 218. BOI chairman Ramon Lopez said the value of registered investment in the first five months of the year also rose 25% from a year earlier to PHP174.5bn. The BOI data further showed that the projects approved in the January to May period are mostly high-impact, socially relevant, and labor intensive. These projects are expected to generate some 51,847 new jobs once operational. Lopez said the latest data only showed that despite the situation in Marawi and the incident in Resorts World, it is still business as usual in the Philippines.
