Investment projects approved by Board of Investments climbed 25 percent in the first five months to P174.5 billion from P137.3 billion in the same period last year.
Data from BoI showed the number of investment projects also increased 70 percent to 218 in the five-month period from 128 a year ago.
Most are high-impact, socially relevant, and labor intensive projects which are expected to generate some 51,847 new jobs once operational, the agency said.
“It’s business as usual in the country,” said Trade Secretary Ramon Lopez, despite the situation in Marawi City and the recent Resorts World Manila incident. He said these incidents were isolated and the Duterte administration was in firm control of the situation.
Lopez said investment prospects in Mindanao remained upbeat given the significant investment projects registered with BoI.
“With the continued confidence of investors on the viability and profitability of doing business in Mindanao, we also send a positive signal on the stability of the peace and order situation in the island group,” Lopez said.