BOI reports 50% growth in investments

Investor confidence in the Arroyo administration is slowly but surely returning, based on investment figures released by the Board of Investments (BOI).

According to Trade and Industry Secretary Manuel Roxas II, some P3.7 billion in investments were approved by the BOI during the first 30 days of the Arroyo government.

This is an increase of 50.3 percent over the P2.38 billion registered in the same period last year.

Roxas said foreign equity investments reached P600.7 million, up by 161.8 percent over the P229 million posted last year. Of this amount, P447.8 million or 74.6 percent represents investments by Asian countries.

The Philippine Economic Zone Authority (PEZA), Roxas said, approved P10.92-billion worth of projects during the first 30 days of the Arroyo administration. This makes a 284-percent increase over the P2.8 billion reported by the PEZA for the compared period last year.

In terms of exports, Roxas said $451.65-million worth of garments and textiles were exported based on records of the Garment and Textile Export Board (GTEB). This was 6.6 percent better than last year’s comparative period.

The investment and export figures for the first 30 days of the new administration, Roxas noted, "is a good start and augurs for the remainder of the year."

He said the implementation of more economic reforms will "further invigorate the investment environment."