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Manila Bulletin devider Business devider Trade & Industry devider BOI aims for P1.75-trillion investment haul in 2025

BOI aims for P1.75-trillion investment haul in 2025

Published Dec 20, 2024 08:33 am

Following the beyond-target approved investments this year, the Board of Investments (BOI) is now aiming to surpass this record by securing P1.75 trillion in approvals for 2025.

BOI Director Lanie Dormiendo, during a Dec. 20 press briefing, said that this 18 percent increase from current levels would still be driven by strong prospects in manufacturing, renewable energy, real estate, information and communications technology (ICT), and construction. 

“Hopefully we'll be able to bring in companies that are in high-value processing,”  Dormiendo said, noting that the agency has ongoing promotion efforts to register manufacturing and other focus sectors, including semiconductors.

As of Dec. 17, the BOI reported that it has peaked at a record-breaking P1.62 trillion in approved investments for 2024, which exceeded the agency’s full-year target of P1.5 trillion. 

This figure, according to the BOI, marks the highest level of investment approvals in the agency’s 57-year history. Thus, setting a P1.75 trillion target for next year reflects the agency’s ambitious drive to break this historic feat. 

This year’s approvals grew by 28 percent from P1.26 trillion in the same period last year, with renewable energy projects driving the increase, reaching P1.38 trillion—a 40 percent year-on-year rise.

Other key sectors in 2024 included air and water transport, real estate, manufacturing, and agriculture, with investments ranging from P7.34 billion to P121.20 billion. 

Notably, the water supply and waste management sector grew by 1,540 percent, surging to P16.28 billion from P992 million last year.

Foreign investments reached P383.31 billion, led by Switzerland with P289.06 billion, a massive 770,263-percent jump from last year’s P38 million. Other top contributors included the Netherlands, Japan, South Korea, Singapore, Thailand, and the U.S.A.

Local investments surged by 150 percent, with Filipino firms contributing P1.23 trillion. CALABARZON led regional investments at P630.97 billion, followed by Central Luzon, Western Visayas, and other key regions.

Cristina Roque, Department of Trade and Industry (DTI) secretary, and BOI chairman, earlier said that the government is committed to building on current momentum into 2025 by refining policies that attract investment in key industries, ensuring the Philippines remains a hub for innovation, growth, and sustainable economic opportunities for all Filipinos.

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