Approved Investments in 2024 Hit ₱1.62T, Surpassing Target — DTI

The Department of Trade and Industry (DTI) announced on Tuesday that investment commitments approved through the Board of Investments (BOI) reached ₱1.62 trillion in 2024, exceeding the Marcos administration’s target of ₱1.5 trillion.

The 2024 figure marks an increase from the ₱1.26 trillion in approved investments in 2023.

Sector Highlights:

• The energy sector, particularly renewable energy projects, accounted for the largest share, with ₱1.38 trillion in approvals—a 40% increase year-on-year.
• Significant growth was also recorded in sectors such as air and water transport, real estate (mass housing), manufacturing, water supply, sewerage, waste management, and remediation activities.

Meanwhile, the Philippine Economic Zone Authority (PEZA) approved ₱214.17 billion in investment pledges, surpassing its ₱200-billion target for the year.

Remarks from Trade Secretary Cristina Roque:
“These investments will drive job creation, spur innovation, and promote dynamic economic growth,” Roque said. She emphasized that the country is laying the groundwork for sustainable and inclusive economic development by prioritizing international trade.

Looking ahead to 2025, Roque vowed to sustain this momentum by refining policies to attract more investments in key industries, ensuring the Philippines remains a leading destination for innovation and growth.