DTI-listed investments up 91%

Investor confidence in the country remained strong as reflected in investment inflows recorded by the Department of Trade and Industry (DTI).

The DTI reported that total approved investments for the first semester of this year reached P51.1 billion, a 91 percent increase from P26.8 billion in the same period last year.

From the Board of Investments (BOI) alone, total approved investments amounted to P31.345 billion, a dramatic 205 percent increase from the P10.265 billion approved in the first semester of 2000.

The Philippine Economic Zone Authority (PEZA) approved investments, on the other hand, reached P19.756 billion from January to June this year, a 19 percent increase over the P16.541 billion approved for the comparable period last year.

The BOI approved 83 projects with a total cost of P31.345 billion from January to June this year which would result in employment for 11,938 workers.

The PEZA, for its part, approved 113 projects with a total project cost of P19.756 billion for the period in review.

The approved projects would generate for 21,328 workers.

The top BOI approved investors are Smart Communications, Rapu-Rapu Processing, Inc. Philweb Com, Inc., Ayalaport Makati, Inc. and ECE Realty & Dev’t Inc. Smart’s project cost is P17.1 million.

Location-wise, 77.82 percent of investors in BOI projects tended to favor countryside location, implying rising job opportunities in the countryside.

The BOI approved 22 information technology projects with a project cost of P8.16 billion.

The PEZA approved IT projects amounted to P1.2 billion.