DTI-BOI Approves ₱1.58 Trillion in Investments from January to November 2024

The Department of Trade and Industry’s Board of Investments (DTI-BOI) approved ₱1.58 trillion in investment commitments during the first 11 months of 2024, moving closer to its year-end target of ₱1.6 trillion.

This figure marks a 44% increase compared to the ₱1.01 trillion recorded during the same period in 2023.

Key Drivers of Growth

The renewable energy sector led the growth, securing ₱1.35 trillion in investment commitments—an impressive 48% increase year-on-year.

Other sectors contributing significantly include:

• Air and Water Transport: ₱121.20 billion
• Real Estate Activities (Mass Housing): ₱34.67 billion
• Manufacturing: ₱30.40 billion
• Water Supply, Sewerage, Waste Management: ₱16.28 billion (up 1,540% from last year)
• Agriculture, Forestry, and Fishing: ₱10.47 billion
• Wholesale and Retail: ₱8.25 billion
• IT and Business Process Management: ₱7.26 billion

Regional and Foreign Investment Breakdown

The CALABARZON region emerged as the top recipient of investments with ₱623.19 billion, followed by:

• Central Luzon: ₱277.08 billion
• Western Visayas: ₱245.95 billion
• Bicol Region: ₱142.89 billion
• Ilocos Region: ₱87.04 billion

Foreign investments amounted to ₱331.78 billion, with the leading contributors being:

• Switzerland: ₱289.06 billion
• Netherlands: ₱40.59 billion
• Japan: ₱14.67 billion
• South Korea: ₱12.72 billion
  Other notable contributors included Singapore, Thailand, and the United States.

Government Initiatives Driving Investments

Trade Secretary and BOI Chairperson Cristina Roque credited the strong performance to the Marcos administration’s macroeconomic policies, stakeholder cooperation, and the BOI’s efforts under the Bagong Pilipinas campaign.

“The ₱1.58 trillion in investment approvals within 11 months is proof of our government’s success in fostering a stable and attractive investment climate,” Roque said. She emphasized the role of the BOI’s Green Lane initiative, which streamlined the approval process for renewable energy projects.

Economic Outlook

“These investments create jobs, drive innovation, and support local enterprises,” Roque added, noting the government’s continued focus on empowering the private sector and transforming the economy to sustain growth.