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Philippines smashes investment targets for 2024—DTI

Business | Trade & Industry

Philippines smashes investment targets for 2024—DTI

The Department of Trade and Industry (DTI) has exceeded its 2024 investment targets, reaching a total of P1.834 trillion in investments from the Board of Investments (BOI) and the Philippine Economic Zone Authority (PEZA).

According to the DTI, the major factors behind this achievement include streamlined investment processes, expanded ecozones, and a growing vote of confidence from local and foreign investors.

DTI Secretary Maria Cristina Aldeguer-Roque reported “significant progress” in attracting investments this year, noting that “these investments will fuel job creation, drive innovation, and foster dynamic economic progress.”

“By focusing on international trade, we are laying the foundation for sustainable and inclusive economic growth,” Roque added.

For this year, the BOI reported approved investments of P1.62 trillion, surpassing its original target set at the onset of the year. It also surpassed the P1.26 trillion approved in 2023.

DTI stated that this outcome resulted from the BOI’s “proactive efforts in promoting investment opportunities and streamlining processes.” Thus attesting to a “powerful vote of confidence” from both local and global investors.

PEZA likewise surpassed its P200 billion target for the year when it reached a record of P214.17 billion in investments.

By developing and expanding ecozones, attracting high-growth industries, and offering top-tier support services, the Philippines has strengthened its position as a leading destination for foreign investment.

Roque assured that in 2025, they will build on this “positive” momentum by refining policies to attract investments in key industries, keeping the Philippines a premier destination for innovation and growth.

Related Tags

Board of Investments (BOI) Department of Trade and Industry Philippine Economic Zine Authority

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