May 3, 2018 | 9:45 pm
ENERGY was the top sector for
investment proposals approved by Board of Investments (BoI) in the four months
to April, the agency said.
In a statement Thursday, the BoI
said the four months to April generated P195.7 billion worth of approved
investments, up 28% from a year earlier.
About P104.3 billion is to be
invested in power projects, including renewables, up from P20.8 billion a year
earlier.
The transportation and storage
sector generated P37.5 billion in approved investment proposals, up from P2.25
billion a year earlier.
Approved manufacturing investment
proposals totaled P15.9 billion, up 3% from a year earlier. The water supply,
sewerage and waste management sector and the real estate sector accounted for
P13.9 billion and P12.7 billion, respectively.
Trade Secretary and BoI Chairman
Ramon M. Lopez attributed the growth in approved investment proposals to
“strong macroeconomic fundamentals and the continuous policy reforms.”
Describing approvals in April as
“moderate,” Mr. Lopez expressed confidence that more investors will arrive and
eventually “make up for the shortfall.”
“We also expect that Foreign Direct
Investments (FDI) will pick up as the outlook of foreign investors is always
long term, generating more jobs and business opportunities,” he added.
April approvals were dominated by
the P19.05 billion to be invested by Philippine Airlines, Inc. (PAL) in six
projects.
Meanwhile, the biggest single
approval was a P5.2-billion proposal by MWM Terminals, Inc., a public-private
partnership (PPP) to build the Parañaque Integrated Terminal Exchange along
Coastal Road.
“These six projects by PAL alone
indicate there is strong passenger traffic demand and once operational, it will
re-energize the tourism industry especially when Boracay reopens before the end
of the year,” Trade Undersecretary and BoI Managing Head Ceferino S. Rodolfo
said. — Janina C. Lim
No comments:
Post a Comment