Investments registered with the Board of Investments (BOI) increased by 21 percent to more than ₱460 billion in the first half of 2026, as projects in the renewable energy (RE) sector continue to dominate the country’s investment landscape.

In a statement last week, the BOI said it approved ₱461.84-billion worth of investment pledges from January to June, higher than the ₱382.24 billion recorded in the same period last year.

These investments cover 124 projects and are expected to generate 14,415 jobs across the country.

Trade Secretary Cristina Roque said the performance of the investment promotion agency (IPA) reflects sustained confidence in the country as an investment destination.

“Our focus now is to turn these investment commitments into operating projects that create quality jobs, strengthen industries, and deliver lasting opportunities for Filipinos,” Roque said.

The energy sector, which includes RE, accounted for the bulk, or 74.3 percent, of BOI-approved investments in the first six months, with a total of ₱343.47 billion.

This runs counter to the BOI’s earlier projection that RE projects would no longer be the main driver of its investment approvals this year.

Instead, the IPA expected registrations to be driven mainly by projects involving mineral processing, infrastructure, and high-value manufacturing.

In line with this, the BOI lowered its investment target for the year to ₱1 trillion from the ₱1.56-trillion worth of investments it approved last year.

For the first half of the year, the BOI said real estate activities were the second-highest source of investments, with ₱36.55 billion, followed closely by air and water transportation with ₱36.25 billion.

Completing the top five were mining and quarrying with ₱14.64 billion, and hotel, tourism, and accommodation projects with ₱7.58 billion.

In terms of location, Cordillera Administrative Region (CAR) secured the highest level of approved investments, with ₱150.4 billion.

Ilocos Region placed second with ₱144.13 billion, followed by National Capital Region (NCR) with ₱48.78 billion, Central Luzon with ₱33.55 billion, and Caraga with ₱16.93 billion.

By investment source, local companies accounted for nearly 97 percent of approved investments in the first half. In particular, domestic investments increased by 41 percent year-on-year to ₱447.32 billion.

Meanwhile, foreign investments reached ₱14.16 billion, with Singapore accounting for the largest share at ₱3.15 billion. Other top foreign investors included China at ₱1.13 billion, the United States (US) at ₱1.06 billion, Australia at ₱961 million, and Japan at ₱873 million.

The BOI said securing these investments demonstrates strong confidence in the government’s economic reforms, which complement the country’s recent attainment of upper-middle-income-country (UMIC) status.

“Together, these developments underscore the positive impact of sound economic policies, strategic reforms, and sustained investment promotion efforts in fostering growth and expanding opportunities for Filipinos,” the IPA said.

Companies that register projects with the BOI are eligible to receive fiscal and non-fiscal incentives that help reduce operational costs and improve competitiveness.