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BOI registers P414B price of initiatives as of Feb 9

MANILA -The Board of Investments (BOI) has registered PHP414 billion price of initiatives from January to Feb. 9, the Department of Trade and Industry (DTI) mentioned Saturday.

DTI Undersecretary and BOI Managing Head Ceferino Rodolfo mentioned the investments, each from native and overseas sources, are 41 p.c of the BOI’s full-year goal of PHP1 trillion for 2023.

Rodolfo mentioned President Ferdinand R. Marcos Jr.’s working visits overseas, particularly in Belgium and China, partially”created a pipeline for strong interest from investors.”

“Hindi ito ‘yong mga pumirma ng letters of intent para sabihin na very interested to go to the Philippines, ito na ‘yong mga nag-register sa BOI (These are not those who signed an LOI to say they are interested to go to the Philippines, these are already those who registered at BOI). For the first one month and nine days, we have already reached PHP414 billion,” he mentioned.

“We really credit a part of that to the strong efforts of the President to promote the Philippines,” he added.

The BOI has permitted PHP655.4 billion in investments in 2021 and an estimated PHP729 billion in 2022.

TheBOI is presently monitoring the funding pledges in Marcos’ official go to to Japan, which Rodolfo projected to succeed in USD10 billion or over PHP500 million.

These firms have proven robust curiosity in manufacturing, the official mentioned.

“Of course hindi ito isang bagsak na magre-register lahat (Of course, this doesn’tmean they would register immediately), it will really take a lot of effort for us to follow through on these investment leads that we’ve generated,” he mentioned.

According to the DTI, no less than 120 Philippine firms and 1,300 Japanese corporations, composed of three,472 businessmen, registered for the conferences held in Tokyo, the place anumber ofLOIson investmentswere signed. (PNA)