DTI exceeds 2024 investment targets

FEARLESS FORECASTS, TOP PERFORMERS, KEY TRENDS

- By LAWRENCE AGCAOILI

The government has surpassed its investment targets for this year, according to the Department of Trade and Industry.

The DTI said the feat was driven by strong performances of the Board of Investments (BOI) and the Philippine Economic Zone Authority (PEZA).

"We are pleased to report significant progress in attracting investments this year. These investments will fuel job creation, drive innovation, and foster dynamic economic progress. By focusing on international trade, we are laying the foundation for sustainable and inclusive economic growth," Trade Secretary Cristina Aldeguer-Roque.

The BOI, through its proactive efforts in promoting investment opportunities and streamlining processes, reported approved investments amounting to P1.62 trillion.

This surpassed the P1.26 trillion approved in 2023 by 28 percent, which attests to the powerful vote of confidence from both local and international investors.

"The P1.62 trillion in investment approvals for 2024 is a powerful vote of confidence from both local and international investors. This reflects the government's commitment to creating a stable and attractive business environment in the Philippines, and attests to the effectiveness of our policies and reforms. These investments will fuel job creation, drive innovation, and foster dynamic economic progress," Roque, who is also BOI chairperson, said.

The energy sector, specifically the renewable energy projects, leads the surge in approvals, totaling P1.38 trillion and marking a 40-percent jump.