Tuesday, August 9, 2022
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business Economy & Trade

Investment pledges grew 27% to P304b in first half

Othel V. CamposbyOthel V. Campos
July 10, 2019, 7:50 pm
in Economy & Trade
Reading Time: 2 mins read
A A
72
SHARES
Share on FacebookShare on TwitterShare on Email

Investment commitments climbed 27.4 percent in the first half to P304.4 billion from a year ago, the Board of Investments said Wednesday.

“Our economy remains strong, and we remain all the more optimistic as the budget impasse has been resolved. All indicators point to the economy accelerating in the second quarter to around 6 percent due to robust domestic consumption. Our business confidence remains the most bullish among Asean countries and even topped all 34 economies surveyed by Grant Thornton’s International Business Report this year,” said Trade Secretary and BoI chairman Ramon Lopez.

Trade Secretary and BoI chairman Ramon Lopez

Data showed commitments from foreign investors surged 375.3 percent in the six-month period to P68.9 billion while approved domestic investments rose 5 percent to P235.6 billion.

Singapore retained its position as the country’s largest foreign investor with P35.4 billion, followed by The Netherlands with P9.2 billion and Thailand with P8.5 billion. Japan and the United States rounded up the five biggest foreign investors with investments of P5.8 billion and P2.4 billion, respectively.

Power projects accounted for the lion’s share of total investments with P192.4 billion, a 77.9-percent increase from last year’s P108.2 billion. The resurgence of the manufacturing sector continued with P45.3 billion in investments to date, up 128.4 percent from P19.8 billion in January to June 2018. 

ADVERTISEMENT

The information and communication sector posted a 9,680-percent upsurge to P33.2 billion from just P340 million last year while tourism accommodation steamrolled to P8.6 billion, up 591 percent from P1.2 billion last year.

“Year-on-year, investments are still increasing. We are confident of surpassing our target at the end of the year. There are big-ticket projects in the pipeline, but we are exercising”•as we do in all cases”•prudence in diligently assessing their eligibility for incentives,” Trade Undersecretary and BoI managing head Ceferino Rodolfo said.

Countryside development continued to be in full swing with 96 percent of investments spread to other regions other than the National Capital Region.

Calabarzon continued as the top investment location with P201.2 billion and followed by Central Luzon with P27.7 billion. 

NCR placed third with P11.3 billion, accounting for just 4 percent of the total figure.  The rest went to Cagayan Valley with P8.7 billion and Central Visayas with P7.7 billion.

Rodolfo said among the latest approvals were the P4-billion, 19.7-megawatt hydropower project of Rio Norte Hydropower Corp. in Isabela, the P4.7-billion acquisition of the newest models of Airbus planes by Cebu Air. Inc. and the P2.3-billion 15-MW thermal power plant of DMCI Masbate Power Corp. in Masbate.

Another notable project was the P47-million export production of coconut products by Aseniero International Trading in Zamboanga del Norte that involves a yearly output of 324,000 kilos of coconut sugar, 246,240 kilos of coconut syrup and 2.8 million liters of coconut vinegar which are geared for exports.

Tags: Board of InvestmentsinvestmentsTrade Secretary and BOI chairman Ramon Lopez
ADVERTISEMENT
Othel V. Campos

Othel V. Campos

Related Posts

Moody’s unit expects 8.8% GDP growth; agri contracts

byJulito G. Rada
August 8, 2022, 8:50 pm
0
158
BBM retains Teehankee as PH permanent envoy to WTO

The Philippine economy likely expanded by 8.8 percent in the second quarter, faster than the revised 8.2 percent in the...

Read more

Salceda defends Marcos’ medium term fiscal plan

byManila Standard Business
August 7, 2022, 5:25 pm
0
166
Salceda urges Labor, Migrant depts to lift ban on OFW

Albay Rep. Joey Salceda said the House of Representatives' approval of the proposed 2022-2028 Medium-Term Fiscal Framework is a “step...

Read more

Government debt climbed by 14.6% to record P12.8 trillion in end-June

byJulito G. Rada
August 5, 2022, 9:40 pm
0
151
Banaag assumes post as Bright Kindle director

Outstanding government debt climbed by more than P1.6 trillion, or 14.6 percent, in June to hit a record P12.79 trillion...

Read more

Indonesia’s economy grew by 5.4% in Q2

byAFP
August 5, 2022, 9:25 pm
0
164
Banaag assumes post as Bright Kindle director

Jakarta, Indonesia—Indonesia’s economic growth accelerated in the second quarter of 2022 despite global uncertainty, official data showed Friday, thanks to...

Read more

US exports hit record $260.8 billion in June—data

byAFP
August 5, 2022, 9:15 pm
0
157
Banaag assumes post as Bright Kindle director

Washington, United States—American exports set another record in June, narrowing the US trade gap for the third consecutive month, according...

Read more

July inflation hit 45-month high of 6.4%

byJuly Rada
August 5, 2022, 10:59 am
0
196
July inflation hit 45-month high of 6.4%

Inflation in July accelerated to a 45-month high of 6.4 percent from 6.1 percent in June, driven by faster increases...

Read more

Stories you may like

  • Zubiri new Senate President, vows to uphold chamber’s independence

    Marcos sees stronger PH-India relations

    5687 shares
    Share 2275 Tweet 1422
  • Showbiz icon Cherie Gil dies at 59

    2597 shares
    Share 1039 Tweet 649
  • Replevin and its common law origins

    1249 shares
    Share 500 Tweet 312
  • Fuel rollback next week, power rate cut in August

    1142 shares
    Share 457 Tweet 286
  • Getting into character: How the cast of ‘Maid in Malacañang’ prepared for their roles

    2686 shares
    Share 1074 Tweet 672

Print Edition

View More

Recent Posts

  • Sneakers for Makati : AB4.0
  • BBM warns of uncertain times
  • Nation bids farewell to former President Fidel V. Ramos
  • Taiwan holds anti-invasion drills as China restarts military exercises
  • Singapore PM: Storm gathering over Taiwan row
  • Consumers get big break from oil price rollback, Meralco rates cut
  • Omicron BA.5 ‘most predominant’ sub-variant of samples sequenced
  • PH unemployment rate holds steady

Advertisement

Latest News

Consumers get big break from oil price rollback, Meralco rates cut

byAlena Mae S. Flores
August 9, 2022, 1:00 am
0
155
Price rollback for kerosene, diesel but gas seen steady

Consumers buffeted by rising prices will get a breather this week as oil companies roll back pump prices by as...

Read more

Omicron BA.5 ‘most predominant’ sub-variant of samples sequenced

byWillie Casas
August 9, 2022, 12:50 am
0
159
Omicron BA.5 ‘most predominant’ sub-variant of samples sequenced

The current increase in COVID-19 cases may be attributed to the coronavirus Omicron BA.5 sub-variant, which now comprises about 85...

Read more

PH unemployment rate holds steady

byJulito G. Radaand1 others
August 9, 2022, 12:40 am
0
138
3 EU nations out warning on ‘Lucky Me!’

The country’s unemployment rate in June 2022 remained unchanged at 6 percent, the same rate a month ago, but significantly...

Read more

Garcia: Comelec ready for village, SK polls in Dec.

byManila Standard
August 9, 2022, 12:30 am
0
162
Comelec reminds poll bets: Follow June 8 deadline on expense report

Commission on Elections (Comelec) chairperson George Garcia said the poll regulator is prepared to conduct the 2022 Barangay and Sangguniang...

Read more

‘Dengue cases up 118% from same period last year’

byWillie Casasand1 others
August 9, 2022, 12:20 am
0
145
PH dengue fatalities highest in Asia

The Philippines logged 92,343 dengue cases from January 1 to July 23, 2022—a 118 percent increase compared to the cases...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App