Based on a Trade Department announcement on its website, the total BOI-approved investments since the effectivity of the CREATE Law in April 2021 reached a total of P468 billion.
Trade undersecretary Ceferino Rodolfo earlier said investments pledges may fall short by 35 to 36 percent to around P600 billion from the target P905 billion in 2021.
He said the government has positive leads but the agency may not have enough lead time to assess and evaluate the projects to catch up for 2021 approval.
Meanwhile, PEZA director general Charito Plaza said the agency is looking forward to a hefty increase in investments this year, as it anticipates renewed interest from investors on the back of strong recovery of the Philippine economy.
PEZA-approved investments from January to October 2021 amounted to P62.72 million.