MANILA, Feb 19 (Xinhua): Investments registered with the Philippines' Board of Investments (BOI) in January this year have reached 414 billion pesos (US$7.55 billion), according to data from the Department of Trade and Industry.
"It means the government investment body already hit more than 40 percent of the 1 trillion pesos (US$18.2 billion) target for 2023," Trade Undersecretary Ceferino Rodolfo told a forum over the weekend.
He said that the BOI-registered investments have already reached close to 60 per cent of the 2022 record, referring to the 729 billion pesos (US$13.29 billion dollars) investments approved by the BOI in 2022.
Rodolfo expressed optimism that the BOI could hit its 1 trillion pesos investment target this year.
Rodolfo said Philippine President Ferdinand Romualdez Marcos' foreign visits have created a pipeline of solid interest from investors.
He added that the increase in investments shows that the government's promotional visits are working, with investors from South-East Asian countries, the United States, Belgium, and China showing interest in putting their money in the Philippines. - XInhua
