"The upbeat mood of local and foreign investors is evident in the sustained growth of investments registered with the Board of Investments (BOI)," Roxas said.
He said that for the month of September alone, the BOI approved 30 projects worth P4.58 billion, or a strong 13.09 percent increase compared to September last year.
Cumulative investments from January to September this year amounted to P94.44 billion, a dramatic 299.32 percent increase from last year and practically double the investment target for the year.
The BOI’s investment target for this year had been originally placed at P50 billion.
According to Roxa, the investment figure for the nine-month period only proves that "the Philippines’ image as a prime investment destination remains strong."
He added that this image is further bolstered by the Arroyo government’s "solid commitment to free and fair trade, the opening up of the economy and the simplification and uniform application of incentives that afford investors a level playing field."
The BOI investment figures further show that the infrastructure/industrial service sector attracted the highest investments amounting to P48.1 billion for the nine-month period.
This was followed by the public utilities sector with P17.21 billion.
Roxas observers that the country’s "rich resource" of information technology professionals and engineering specialists, and fast-expanding, global standard telecommunications infrastructure and cyber parks have attracted 44 IT firms to set up new and expanded Philippine and regional operations.
The IT projects, with total investments of P11.514 billion, are expected to generate 12,406 new jobs.
Cumulative equity investment grew by 466.95 percent, amounting to P60.21 billion compared to the P10.62 billion registered from January to September last year.
Equity Investment for September alone amounted to P3.02 billion, with local Investors accounting for P2.64 billion and foreign Investors bringing in P381.05 million.
"Filipino investors are displaying very strong support for the economy," Roxas said.
Filipino investors, he pointed out have invested a total of P45.33 billion from January to September this year, a 731.74 percent increase over last year level.
Roxas did not downplay though foreign investments which, he said, increased by a "robust" 188.37 percent to P14.99 billion for the same period.
The leading country investor is Singapore with investments amounting to P9.41 billion; Japan with P1.48 billion and Sweden with P725 million.