Philippines: BOI to double investment approval target this year

• Aug 15, 2016

Philippines: BOI to double investment approval target this year

Monday, August 15, 2016 – The Board of Investments (BOI) is doubling its target investment approvals for 2016, signaling a more aggressive outlook among local investors on the country’s investment landscape compared to their foreign counterparts.

BOI chairman and Trade Secretary Ramon Lopez told The STAR the agency is hiking its growth target for approved investment pledges this year to around 10 percent from the previous expectation of five percent.

Approved investment pledges by the agency improved three percent to P366.74 billion in 2015 from P354.76 billion the previous year.

Lopez said sustained confidence among local investors on the new administration is expected to buoy investment applications in BOI in the second half. Read More?