Approved investments from January to May 2023 reached P532.27 billion, a 158.72-percent increase from the P205.73 billion investment approvals recorded in the same period in 2022, the Board of Investments (BOI) has reported.
APPROVED investments from January to May 2023 reached P532.27 billion, a 158.72-percent increase from the P205.73 billion investment approvals recorded in the same period in 2022, the Board of Investments has reported. The surge was mainly driven by foreign investments in the renewable energy sector.
BOI Managing Head and Trade Undersecretary Ceferino S. Rodolfo said the bulk of foreign capital will be poured into the Renewable Energy sector. Rodolfo emphasized that the chunk of foreign capital being poured into the country is increasing, compared to local investments. Before, the BOI managing head said, around 80 percent of the investments would usually come from local companies and 20 percent from foreign firms.
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