The Department of Trade and Industry (DTI) said over the weekend that about $14.2 billion worth of investments have been realized from the $72.2 billion amassed during various trade missions led by the President in 2023.
It said of the 148 projects pledged to the Philippines, 46 were in various stages of implementation.
“Our dedication to turning investment pledges into reality is unwavering. We also leverage each presidential visit as a springboard for building up a pipeline of investment opportunities and making the Philippines an investment destination of choice,” said Trade Secretary Alfredo Pascual.
The investments span various sectors including manufacturing, IT-BPM, renewable energy, infrastructure, transport and logistics, agriculture, and retail.
Among these sectors, manufacturing has the largest share in terms of the number of projects, comprising 16 projects or 35 percent of the total, followed closely by IT-business process management with 10 projects and renewable energy with 9 projects.
Japan is the top investor with 21 projects, while the US comes in second with 13 projects.
The DTI noted that despite clear intent from investors to proceed with their projects, some are still ironing out important details with their principals.
The actualization of investments contributes to the decrease in the unemployment rate in the Philippines, as IT-BPM and manufacturing are significant generators of direct employment, it said.
It said with the green lane system now in place, more significant projects are expected to be approved in less time.
The Board of Investments (BOI) has granted green lane certification to 41 projects as of February 2024.
