Strong investment inflows to the Philippines amid economic challenges here and overseas, will help the Board of Investment (BOI) meet its PHP1 trillion investment approvals target for 2026.
“Yes, I’m confident that we will hit that,” BOI managing head, Trade Undersecretary Ceferino Rodolfo, told journalists Tuesday.
“The expectation is that we will hit it and we are working to exceed it.”
Investment approvals in the first nine months this year reached PHP900.6 billion, up 53.05 percent from PHP588 billion in the same period last year.
Rodolfo said they continue working toward their target, noting that less than two months remain until the end of the year.
“But we think that in the pipeline, we can do it. It’s already in the pipeline… There are some (investment projects) that are (still) being evaluated,” he said.
Rodolfo said they are now focusing on transformative or strategic projects, such as those in renewable energy (RE), which has been the driver of growth for several years now.
The BOI earlier reported that the energy sector accounted for the largest investment approvals by the end of September, with 82.33 percent or PHP740.14 billion.
It was followed by real estate, with PHP46.66 billion; transportation and storage, PHP36.47 billion; information and communication, PHP P18.36 billion; and manufacturing, PHP P14.86 billion.
For 2027, Rodolfo said the target has not been finalized, but noted that “we’re focusing on the enabling environment and long-term industrial policy planning.” (PNA)