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
September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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