The Board of Investments (BoI) approved P202.97 billion worth of investment in July, up 24038% from the P840.9 million investments approved in the same month last year.
In a statement on Friday, the BoI said that 30 projects were greenlighted last month which are expected to generate 8,931 direct jobs.
Last month’s approval brought the first seven months’ approval to P1.15 trillion, representing an increase of 65% from P699 billion in the same period a year ago.
“Our target is clear: to hit and even surpass P1.6 trillion in approved investments this year,” said Trade Undersecretary and BoI Managing Head Ceferino S. Rodolfo.
“With the momentum we have built, we are confident in achieving and exceeding this goal, driving economic development,” he added. – Justine Irish DP Tabile
