• Projects approved by the Board of Investments (BOI) hit an all-time high of P1.26 trillion in 2023, with the bulk coming from foreign sources.
  • For this year, Trade Secretary Alfredo Pascual said the BOI projects to exceed total investments approved in 2023, even as the agency’s official commitment or target for investment approvals for 2024 is at P1.1 trillion.
  • Trade Undersecretary and BOI managing head Ceferino Rodolfo, in a press conference, said that total approved investments in 2023 hit P1.26 trillion, the highest on record and 73 percent higher than the P729.1 billion in 2022.
  • The BOI-approved investments for 2023 consist of 311 projects, a 28 percent increase from the previous year.
  • At full operation, the projects are expected to create 49,030 jobs.