NextGen Day

MANILA, Philippines — The Philippine Economic Zone Authority (PEZA) and the Board of Investments (BOI), the country’s two largest investment promotion agencies, have approved PHP12.82 billion in investments during the first two months of the year.

BOI approved PHP7.55 billion in investment, according to government data, while PEZA approved PHP5.27 billion in projects.

However, investment approvals fell by 90.4 percent from January to February 2021, totaling PHP133.24 billion, with BOI approving PHP121.93 billion and PEZA approving PHP11.31 billion.

In terms of employment, registered projects are estimated to produce 4,847 jobs from January to February of this year.

The largest portion, PHP5.12 billion, was allocated to real estate activities (39.9 percent).

Electricity, gas, steam, and air-conditioning supply came in second with PHP5.09 billion (39.7%), manufacturing came in third with PHP1.50 billion (11.7%), administrative and support service activities came in fourth with PHP1.04 billion (8.1%), and agriculture, forestry, and fishing came in sixth with PHP0.06 billion (0.5 percent).

Singapore was the largest source of approved foreign investments, with PHP1.32 billion in approved investments.

Japan came in second with PHP310 million, followed by the British Virgin Islands with PHP220 million, Liechtenstein with PHP140 million, and the United States with PHP120 million.

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