MANILA – Investments committed with the Board of Investments (BOI) and the Philippine Economic Zone Authority (PEZA) plunged by 71.6% in the first half of the year due to the global economic slump.
A report released by the Department of Trade and Industry (DTI) said investments registered with the two agencies fell to P79.68 billion in January to June 2009 from P280.81 billion in the same months last year.
However, DTI Secretary Peter Favila remains confident that the Philippines would still meet its investment growth target of 0-5% this year as the world economy begins to pull out of recession.
“There are positive signs of generally improving economic and financial conditions in most economies worldwide. Although at a snail’s pace, [the recovery] provides impetus for modest investment performance of the Philippines in 2009,” he said, noting that investments soared by 243% quarter-on-quarter to P61.7 billion at end-June.
During the first 6 months, 340 projects were approved by the BOI and PEZA, and these are expected to provide jobs to 55,533 workers.
The top 5 investments for the period include the 2 geothermal power projects of AP Renewables Inc. in Makban and Tiwi (P13.18 billion and P9.54 billion, respectively); 8 information centers and one incubation building in Baguio (P3.94 billion); mass housing projects of DMCI Project Developers (P3.02 billion); and the 17.5-megawatt biomass power generating plants of Green Power (P2.03 billion).
Local investors remained the major source of investments, accounting for P60.79 billion or 76 percent of the total in January to June. The rest were infused by foreign investors led by Hong Kong businessmen (P3.91 billion), followed by Japanese, Americans and British with P3.32 billion, P3.16 billion and P2.2 billion, respectively.
In the second quarter, DTI Undersecretary for Industry and Investments Elmer Hernandez said projects were mainly in the utilities, IT, and manufacturing sectors.–abs-cbnNEWS.com
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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