Latest news with #BoardofInvestments
GMA Network
04-07-2025
- Business
- GMA Network
DTI-BOI green lane certifies 31 food security projects worth P18.7B
The Department of Trade and Industry (DTI), through the Board of Investments (BOI), has granted Green Lane certifications to 31 food security projects as of the end of the first half of 2025. In a statement, the DTI said the approved 31 food security projects are worth P18.7 billion in investments and are expected to generate over 7,000 jobs. In February 2023, President Ferdinand "Bongbong" Marcos Jr. issued Executive Order 18, which mandated the creation of green lanes as part of efforts for ease of doing business and promoting strategic investments. Obtaining green lane status expedites permit and license issuance, including resolving strategic investment issues. Strategic investments are those which are aligned with the Philippine Development Plan or any similar national development plan and can be characterized by: significant capital or investment to the country; consequential economic impact; positive impact on the environment; significant contribution to the country's balance of payments; with complex technical processes and engineering designs; and will improve the country's infrastructure capabilities. The DTI said the food security projects range from modern breeder farms to a major coconut processing facility. The Trade Department said strategic investment projects will boost local food production while stimulating employment in agriculture and agribusiness. The agency added that a single coconut processing facility alone is projected to employ 4,725 workers, while a set of breeder farms is expected to create 1,009 jobs. "Our drive for food security goes hand in hand with creating sustainable jobs for Filipinos. This initiative directly addresses President Ferdinand Marcos Jr.'s directive to strengthen local production and lower food costs for Filipino families," said Trade and Industry Secretary and Board of Investments (BOI) Chairperson Cristina Roque. Broken down, the DTI said 31 projects consist of the following: 17 breeder farms, eight fattening pig production facilities, a feed mill, a cold storage facility, a greenhouse vegetable production, an integrated dairy farm, a wean-to-finish farm, and a coconut processing facility. The Trade Department noted that 17 of these projects are in the pre-development stage, seven are under construction, six are already operational, and one is in the pre-operational status. Since its launch in February 2023, the Green Lane initiative has approved 222 projects worth a combined P5.75 trillion in investments through the DTI-BOI's One-Stop Action Center for Strategic Investments. Collectively, these projects are expected to generate over 319,000 jobs. Of the 222 Green Lane projects, 176 are in renewable energy, 31 in food security, nine in digital infrastructure and public-private partnerships (PPP), and six in manufacturing. — VDV, GMA Integrated News
Gulf News
24-02-2025
- Business
- Gulf News
Philippines: 130,000 jobs seen on $34.55 billion investment pledges
Manila: The Philippines is experiencing an investment surge like never before, with Php 1.9 trillion ($34.55 billion) in approved investment pledges for 2024 — the highest in history. This 29 per cent jump from 2023 is expected to generate over 130,000 jobs, marking a major milestone in the country's economic transformation. Investor confidence soars The Board of Investments (BOI) credits the Marcos administration's aggressive push to position the Philippines as a premier investment hub. Frederick Go, Special Assistant to the President for Investment and Economic Affairs (SAPIEA), said these investments will fuel economic expansion and job creation. 'This unprecedented performance reflects the growing investor confidence in the country and the success of our economic policies,' Go said. 'These projects will translate into more jobs and long-term, investment-driven growth.' Where are the investments coming from Domestic investments: Php 1.35 trillion ($23.3 billion), a huge jump from Php578 billion in 2023) Foreign investment pledges: Php 544 billion ($9.4 billion) Top foreign investors: Switzerland, South Korea, the Netherlands, Japan, and Singapore Strategic sectors BOI Undersecretary Ceferino Rodolfo highlighted that these investments focus on key transformational industries: Renewable energy: Php 1.30 trillion Manufacturing: Php 144 billion Real estate: Php 138 billion Transportation and storage: Php 131 billion Electricity, gas, and utilities: Php 79 billion 'These projects are not just about numbers—they are modernizing the Philippine economy,' Rodolfo said. 'From tech-driven agriculture to sustainable energy, these investments will reshape industries and create high-value jobs.' New era of growth With this record-breaking investment influx, the government is optimistic that 2024 will pave the way for a stronger, investment-led Philippine economy. The challenge now? Ensuring these pledges materialize into real opportunities for Filipinos. The country posted a new record-high GNI per capita of $4,230 in 2023. and has been one of the most dynamic economies in the East Asia and Pacific region. This economic dynamism reflects increasing urbanisation, a large and young population, and strong consumer demand, supported by a vibrant labour market and robust remittances, which have raised the incomes of the most vulnerable, according to a World Bank report. In 2025, the Philippines is on track to become an upper middle-income country if key targets are met, according to the bank.
