BOI confident to hit investment approval targets-A A +A
Friday, August 15, 2014
THE Board of Investments (BOI) is confident to achieve investment approvals target set for 2014 and 2015, BOI managing head Adrian S. Cristobal Jr. said.
Cristobal, who is also an undersecretary for the Department of Trade and Industry (DTI), said the baseline investment mentioned in the agency’s proposed budget for 2015 is this year’s expected investment approval which amounts to P491.05 billion.
During the first semester of 2014, BOI-approved investments were valued at P149.45 billion. This means the agency must get at least P341.6 billion investments within the last six months to achieve the expected investment approval this year.
By 2015, the BOI eyes 10 percent increase from this year’s expected investment approvals to P540.15 billion.
“It’s consistent that most of these investments will come from the energy and real estate sectors,” Cristobal mentioned.
Supporting the targets for next year is by assisting 5,295 investors and increasing the promotion events to 296.
Moreover, the investment approvals of BOI for 2014 and 2015 are expected to create thousands of jobs.
This year’s additional job generation is eyed at 42,000 while the agency targets to create 46,000 more employment next year.
Jobs generated by BOI-approved investments from January to June this year already reached 25,805 jobs.
Meanwhile, the BOI shared largest value of investment approvals among the investment promotion agencies (IPAs) in 2013.
BOI-approved investments in 2013 had accounted for P466 billion or 62 percent of the total investments entered in seven major IPAs nationwide.
Published in the Sun.Star Cagayan de Oro newspaper on August 16, 2014.