Committed Investments Nearly Double in 7 Months

Manila Bulletin, September 7, 2016 | Go to article overview

Committed Investments Nearly Double in 7 Months


Committed investments in the first seven months of the year reached P210.37 billion, almost double or 98 percent higher than the P106.08 billion posted in the same period of 2015, the Board of Investments (BOI) reported.

In a statement, the BOI said the investment pledges represent the combined project cost of 192 projects it approved and registered in the January to July period this year.

These projects are in varying stages of their operations. Once fully operational, these projects are expected to generate 37,487 jobs.

The increase in investments was attributed mainly to the approval of notable big ticket power and infrastructure projects such as the Limay Premier Power Corp., GMR Megawide Cebu Airport Corporation, Light Rail Manila Corporation (LRMC), and two renewable energy projects - Bayog Wind Power Corp. and Cordillera Hydro Electric Power Corporation, with generating capacity of 150MW and 60MW, respectively. Compared with the same period last year, energy projects surged by 325 percent this year, accounting for 51 percent of total approvals.

For the month of July, among the top approved projects are El Elyon Power Plan Phils., Inc. (P11.64 million), with a generating capacity of 160MW in Sarangani Province, and Luzon Clean Water Development Corp. (P8.38 million), a PPP project for the Bulacan Bulk Water Supply Project (Stages 1 and 2 -under the concession agreement with the MWSS).

The other sectors topping investment approvals are construction, followed by mass housing, manufacturing and the transportation & storage sector. Major manufacturing sub-sectors include food products; motor vehicles, trailers and semi-trailers; fabricated metal products; leather and other related products; wearing apparel; and other manufacturing products.

Singapore topped the list among the foreign country investors in the first seven months with investments worth R9.83 billion or 27 percent share to total approved foreign investments during the period. Netherlands came in second with investments amounting to R7.12 billion, followed by South Korea with R6.42 billion, Japan with R5.69 billion and British Virgin Islands with R2.02 billion.

Region 3 got the highest investments approvals worth P44.32 billion or 21 percent share to total approved investments. …

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