Push Admin

BOI approves record-high P1.16-trillion investments in 2023

Article (news)

Pia Gutierrez, ABS-CBN News

<p><br/>MANILA — The Philippines approved P1.16 trillion in investments this year, the highest in the 56-year history of the trade department&#x27;s Board of Investments, an official reported Friday.</p><p>Trade Undersecretary Ceferino Rodolfo said this exceeded the previous record-high investment approval of P1.14 trillion in 2019. </p><p>The official attributed the increase in investments to the Philippine government’s &quot;aggressive promotion&quot; of the country to foreign investors, particularly during President Ferdinand Marcos Jr’s trips abroad. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/12/27/23/marcos-trips-actualize-p294-billion-investments-palace">Palace says P294 billion worth of investments &#x27;actualized&#x27; from Marcos trips</a></li></ul><p>This year also marks a significant increase in the percentage of approved foreign investments compared to domestic investments, Rodolfo said in a televised briefing. </p><p>“Dati ho yan mix natin pagdating sa investment approvals, 80-20. Eighty percent is coming from local, 20 percent is coming from foreign. Ngayon makikita natin almost 70 percent na ho yung coming from foreign tapos 30 percent yung from local. Nabaligtad ho...dahil nakikita natin na yung foreign investors interest sa atin ay lumalaki,” he said.</p><p>Rodolfo said majority of the approved investments were for digitalization and renewable energy. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/08/21/23/meralco-unit-to-invest-p18-b-in-renewable-energy">Meralco unit to invest P18 billion to grow renewable energy portfolio</a></li></ul><p>They are expected to generate between 150,000 to 200,000 jobs for Filipinos, he said.</p><p>“Makikita natin ngayong 2024 kasama ng mga nasa pipeline of projects hindi lang yung magtatayo halimbawa ng solar projects, ng windmill power projects,” he said. </p><p>“Kasama sa mga papasok dito sa atin yung mga magma-manufacture ng mga equipment at component that are needed for this project and we could also export these to other countries in the region.”</p><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2802827" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2802592" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

The Philippines approved P1.16 trillion in investments this year, the highest in the 56-year history of the trade department's Board of Investments. 

BOI approves record-high P1.16-trillion investments in 2023

News

Entertainment

Lifestyle

Sports

Metro.Style

More

Sudoku

Word of the Day

Lotto

Horoscope

Business

BOI approves record-high P1.16-trillion investments in 2023

Pia Gutierrez,

ABS-CBN News

Published December 29, 2023 01:45 PM PHT

Read More:

investments

Philippines

economy

Board of Investments

ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.

Corporate

Investors

Governance

International Distribution

Corporate

Governance

Investors

International Distribution

NPC Seal of Registration

Privacy Policy

AI Policy

Terms of Service

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.