BOI-listed investments plunge 66% to P15.14B in Jan.-April

Capital inflows registered with the Board of Investments (BOI) plunged by 65.8 percent to P15.14 billion in the first four months of the year from P44.28 billion in the same period last year.

However, the BOI downplayed the drop by pointing out that the investments that came in during the first four months have the potential of generating more jobs.

The biggest projects approved by the BOI during the four-month period include the P2.250 billion project of Globe Telecom Inc.; the P1.666 billion project of Zenith Foods Corp.; and the P452.7 million project of Miramar Fish Company Inc.

In particular, Globe is investing nearly P2.3 billion on a cable landing station in Nasugbu, Batangas for the City to City (C2C) Cable Network.

C2C cable network is the newest international telecommunications cable network that provides new circuits of connectivity from and through the Asia-Pacific region.

The landing station will be connected to Metro Manila by direct buried fiber optic cable and commercial operation is expected to begin this month.

Zenith Foods, a Jollibee subsidiary, is putting up a P1.67 billion agricultural and food-processing center in Carmelray Industrial Park in Canlubang, Laguna.

Zenith will produce processed meat, marine products fruits, sauces and cereal-based products, which will be, supplied to all Jollibee stores nationwide.

The Jollibee subsidiary is expected to create employment for 553 workers.