BOI investments ascend 249% in Feb. to P3.22-B
Foreign investments approved in February at the Board of Investments (BOI) climbed 249 percent to reach P3.22 billion and raised the first two months’ total to P12.4 billion. Total approved investments in February last year were worth P924 million.
In a statement, the BOI said 3,250 new jobs are expected to be created by the 24 projects granted incentives under the Investment Priorities Plan.
Thailand topped the list of countries that committed projects “with investments amounting to P2.2B followed by Japan (with) P703M, and different nationalities including Taiwan and the United States (at) P182M,” the BOI said.
“CP Foods, a major transnational conglomerate in Thailand’s agribusiness industry, will construct a modern aqua feeds plant with an annual capacity of 114, 000 metric tons,” according to the BOI.
The agency revealed that CP Foods “will help supply aqua feeds for the local aquaculture and fisheries industries. They will also source their raw materials from local and foreign suppliers and will need local supply utilities.”
240 projects await approval
“Our February figures show more jobs for every peso of investments,” BOI Managing Head Adrian S. Cristobal Jr. was quoted as saying. He also said many more projects await the investment promotion agency’s stamp.
“There are 240 more projects in the pipeline for BOI approval as of February this year,” Cristobal said.
“Our February figures show more jobs for every peso of investments,” he added.
Other projects approved in February include:
“The Zanorte Palm-Rubber plantation project is expected to harness the potential of rubber as a new growth industry in the country. Initial target buyers for dried rubber are Dunlop, Bridgestone, and Yokohama,” the BOI said.
The BOI also disclosed that the approved Toyota Motor Philippines project "will strengthen the country’s foothold in production of compact sedans.”
“SME suppliers are also expected to benefit from the project through Toyota’s cluster development program “Big Enterprise Small Enterprise” where they monitor and cascade supply development programs to SMEs,” the BOI added. — ELR, GMA News
In a statement, the BOI said 3,250 new jobs are expected to be created by the 24 projects granted incentives under the Investment Priorities Plan.
Thailand topped the list of countries that committed projects “with investments amounting to P2.2B followed by Japan (with) P703M, and different nationalities including Taiwan and the United States (at) P182M,” the BOI said.
“CP Foods, a major transnational conglomerate in Thailand’s agribusiness industry, will construct a modern aqua feeds plant with an annual capacity of 114, 000 metric tons,” according to the BOI.
The agency revealed that CP Foods “will help supply aqua feeds for the local aquaculture and fisheries industries. They will also source their raw materials from local and foreign suppliers and will need local supply utilities.”
240 projects await approval
“Our February figures show more jobs for every peso of investments,” BOI Managing Head Adrian S. Cristobal Jr. was quoted as saying. He also said many more projects await the investment promotion agency’s stamp.
“There are 240 more projects in the pipeline for BOI approval as of February this year,” Cristobal said.
“Our February figures show more jobs for every peso of investments,” he added.
Other projects approved in February include:
- Toyota Motor Philippines’ production of the Vios model in its Laguna plant;
- Quadriver Energy Corp.’s hydroelectric power generation project in Bohol;
- Zanorte Palm-Rubber’s Plantation in Zamboanga; and
- Pueblo de Oro Development Corp.'s property development in Batangas.
“The Zanorte Palm-Rubber plantation project is expected to harness the potential of rubber as a new growth industry in the country. Initial target buyers for dried rubber are Dunlop, Bridgestone, and Yokohama,” the BOI said.
The BOI also disclosed that the approved Toyota Motor Philippines project "will strengthen the country’s foothold in production of compact sedans.”
“SME suppliers are also expected to benefit from the project through Toyota’s cluster development program “Big Enterprise Small Enterprise” where they monitor and cascade supply development programs to SMEs,” the BOI added. — ELR, GMA News
No comments:
Post a Comment