Philippine Investment Board Registers 7.55 Billion Dollars in January

"It means the government investment body already hit more than 40 percent of the 1 trillion pesos (roughly 18.2 billion dollars) target for 2023," Trade Undersecretary Ceferino Rodolfo told a forum.

He said that the BOI-registered investments have already reached close to 60 percent of the 2022 record, referring to the 729 billion pesos (roughly 13.29 billion dollars) investments approved by the BOI in 2022.

Rodolfo expressed optimism that the BOI could hit its 1 trillion pesos investment target this year.

Rodolfo said Philippine President Ferdinand Romualdez Marcos' foreign visits have created a pipeline of solid interest from investors.

He added that the increase in investments shows that the government's promotional visits are working, with investors from Southeast Asian countries, the United States, Belgium, and China showing interest in putting their money in the Philippines.

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