Investment pledges up 40% in Jan-Mayhome/Business/Top Business/Investment pledges up 40% in Jan-MayInvestment approvals surged by 40.1 percent in the first five months of 2019 on the back of growing local pledges, the Department of Trade and Industry (DTI) reported on Tuesday. In a statement, the department’s Board of Investments (BoI) said these investment pledges amounted to P290.6 billion, compared with P207.5 billion in January to May last year. Region 3 (Central Luzon) came next with P27.1 billion; the National Capital Region or Metro Manila with P7.9 billion; Region 7 (Central Visayas) with P5.7 billion; and Region 2 (Cagayan Valley) with P4.4 billion. Singapore led all other foreign investors in the period with P35.4 billion worth of approved pledges. “Power projects are essential, as it fuels the Build Build Build program of the government and the demands of a growing population,” Rodolfo explained.

Source: Manila Times June 11, 2019 16:27 UTC