Upbeat
No. 05.29.13 ď Žď Ž No. 2110 10.30.2008
BOI generates P34.3B Q1 investments The Board of Investments (BOI) has approved some P34.3B new investments in the first quarter of 2013, or 87% better than the P18.4B registered in the same period last year, fuelled by bullish domestic investors. Of the amount, over 95%, or P32.88B, were from Filipino investors and only P1.45B or 4.2% from foreign investors. The investments came from 55 projects that were expected to generate 7,024 jobs. The surge in the first quarter investments were driven by the big-ticket projects such as Petron Corp.'s P11.2-B solid fuel-fired power plant in Bataan and Bac-Man Geothermal Inc.'s P5.1-B renewable energy project in Sorsogon. T rade and Industry Information Center Makati City, Philippines Tel.: (632) 895.3611 Fax: (632) 895.6487 publications@dti.gov.ph Copies available upon request.
The increase in the power sector investments was critical to address the consumers' increasing demands and the economy's rapid industrialization.
These projects have made the electricity, gas, steam, and air-conditioning supply sector, which covers the power generating plants and renewable energy projects, to become the biggest in terms of sectoral investments. “Given the urgency of the situation, power projects are expected to dominate the investments landscape to meet such growing demand in line with the policy thrust of the government to further expand the use of renewable energy while accelerating the exploration of petroleum and coal plants under the Philippine Energy Plan of 2012-2030,â€? the BOI said. The real estate activities, on one hand, garnered P8.3B of investments or 23.97% of total shares. The increase of investments in the housing sector will address the country's 3.5M housing backlog. Demand for mid-priced and low-end housing is expected to remain strong in the coming years and developers are expected to capitalize on that demand. Investments in the transportation and storage industries came next with P4.95B or 14.42% of the total share. Meanwhile, the United States (U.S.) registered the biggest foreign capital with investments amounting to P111.4M, or 7.7% of the total foreign investments. Investments from the U.S. were channelled mostly to real estate; agriculture, forestry, fishing, and information and communications technology (ICT) sectors. ď Ž