BOI okays P2.307-B new investments

The Board of Investments (BOI) has approved a total of P2.307 billion worth of investments in 19 projects from Jan. 2 to Feb. 10 this year under the simplified registration program, BOI managing head Elmer C. Hernandez announced yesterday.

In a press briefing, Hernandez reported that 19 projects have been approved under the simplified registration program of the BOI.

Hernandez said 13 projects were approved under the ministerial category amounting to P1.509 billion and six projects under the discretionary category costing P717.178 million.

The 19 approved projects is expected to generate jobs for 3,248 workers.

For the week, Feb. 6 to Feb. 10, Hernandez said, two projects were approved under the simplified registration program with a total investment of P285.317 million.

The two projects approved last week were the P275 million plastic packaging for banana export of Pacific Service and Packaging Ent. Inc. and the P10.317-million tool and die project of Sungwoo Technologies.

Pacific Service and Packaging Ent. Inc.’s project is located at the AJMR Port Complex in Tibungco, Davao and is scheduled to start operation in July this year.

Sungwoo’s project is located in Balibago, Sta. Rosa, Laguna and is scheduled to start operation in September this year.