Tag: Board of Investments (BOI)

DTI exceeds 2024 investment approval target

DTI exceeds 2024 investment approval target

carlocarrasco

More than P1.6 trillion in approved investments have been confirmed and this means that the Department of Trade and Industry (DTI) exceeded its target for 2024, according to a news article by the Philippine News Agency (PNA).

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

The Department of Trade and Industry (DTI) said approved investments already surpassed the 2024 target.

In a statement on Thursday, DTI said investments approved by the Board of Investments (BOI) amounted to PHP1.62 trillion, surpassing the PHP1.5 trillion target. It was also higher than the PHP1.26 trillion approved investments in 2023.

In a separate statement, the BOI said energy sector, specifically the renewable energy projects, recorded the biggest surge in approvals, totaling PHP1.38 trillion, up by 40 percent year-on-year.

Other sectors which recorded the biggest increase include air and water transport at PHP121.20 billion; real estate activities (mass housing) at PHP37.26 billion; manufacturing at PHP31.67 billion; water supply, sewerage, waste management, and remediation activities at PHP16.28 billion; agriculture, forestry, and fishing at PHP11.02 billion; wholesale and retail at PHP8.25 billion; and information technology-business process management at PHP7.34 billion.

The Philippine Economic Zone Authority (PEZA), meanwhile, approved PHP214.17 billion in investments, surpassing the PHP200 billion target for the year.

“We are pleased to report significant progress in attracting investments this year. These investments will fuel job creation, drive innovation, and foster dynamic economic progress. By focusing on international trade, we are laying the foundation for sustainable and inclusive economic growth,” Trade Secretary Cristina Roque said.

“As we approach 2025, we are determined to build on this positive momentum. We will continue to refine and implement forward-looking policies that attract investments in these key industries, ensuring that the Philippines remains a prime destination for innovation and growth.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the P1.62 trillion in approved investments will have a big effect on the national economy in 2025?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Muntinlupa City Seen To Benefit From DTI-BOI Investment Promotion

Muntinlupa City Seen To Benefit From DTI-BOI Investment Promotion

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The local government of Muntinlupa entered a partnership with the Department of Trade and Industry – Board of Investments in boosting Muntinlupa City as an investment destination. DTI Undersecretary and BOI Managing Head Ceferino Rodolfo signed a memorandum of agreement with Muntinlupa Mayor Jaime Fresnedi for the investment promotion endeavor at Muntinlupa City Hall, Putatan last April 16. Also witnessing the signing ceremony were DTI-BOI Investments Assistance Service Director Atty. Bobby Fondevilla, Muntinlupa City Administrator Engr. Allan Cachuela, Philippine Chamber of Commerce and Industry – Muntinlupa President Elvie Sanchez-Quiazon, and other local officials. (from Muntinlupa PIO press release)

The City Government of Muntinlupa continues to move forward and gain recognition for governance, cooperation and a continued business-friendly approach. For those who are unaware, Muntinlupa was named as the Most Business-Friendly City in 2017 and 2018 and judging from the other kinds of awards it won these past years it proved to be a highly competitive city nationwide.

Very recently I received a press release from the Muntinlupa Public Information Office (Muntinlupa PIO) in which the City Government (led by incumbent Mayor Jaime Fresnedi) announced that it has sealed a partnership with the Department of Trade and Industry – Board of Investments (DTI-BOI).

What’s the partnership about? Specifically the DTI-BOI will promote the city as an investment destination. Already DTI Undersecretary and BOI Managing Head Ceferino Rodolfo signed a memorandum of agreement (MOA) with Muntinlupa Mayor Jaime Fresnedi for the investment promotion endeavor at Muntinlupa City Hall on April 16.

What does this mean? It means the DTI-BOI will assist in boosting Muntinlupa City as an investment destination by providing relevant information on available incentives to potential local and foreign investors.

The investment board shall also provide assistance in the implementation of policies geared towards improvement of processes in starting a business. BOI aims to create an environment conducive to the expansion of existing investments or attracting prospective investments in the city. Further, the board will also conduct a mentoring program for the City Government’s frontline personnel.

During the MOA signing ceremony, Usec. Rodolfo lauded local initiatives and ease of doing business in Muntinlupa City. The BOI exec recognized some innovations facilitated by the City Government and its assistance in Micro, Small, Medium, and Large Enterprises and locators in Muntinlupa.  He also stated that Muntinlupa City is a business destination for high-value investments.

The mayor expressed his thanks to BOI for its assistance and said that the partnership will ripple to significant employment opportunities and the continuous development of local economy.

The way it is right now, Muntinlupa has arguably the most modern business and commercial zones in South Metro Manila. Already many companies have set up offices or corporate headquarters in Filinvest City, Madrigal Business Park, and Northgate Cyberzone in the Alabang area. When it comes to travel, the local connection to the Metro Manila Skyway is a big boost to the city as it allowed countless motorists to travel faster to and from Makati, Manila, Pasay City and the airports.

Things continue to look bright for Muntinlupa.

Thank you for reading. If you find this news article engaging, please click the like button below and also please consider sharing this article to others. Also my fantasy book The World of Havenor is still available in paperback and e-book format. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me as well. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me at HavenorFantasy@twitter.com