BoI-approved investments jump 21%

By Beatriz Marie D. Cruz, Senior Reporter

THE BOARD of Investments (BoI) has approved P461.84 billion worth of investments in the first half of 2026, mainly in renewable energy and real estate sectors.

In a statement on Sunday, the BoI said approvals in the six-month period jumped by 21% from the P382.24 billion recorded last year.

As of end-June, the BoI had greenlit 124 projects, which are expected to create 14,415 local jobs.

The January-June pledges account for nearly half or 46% of the BoI’s P1-trillion investment target for 2026.

The energy sector, particularly renewable energy, accounted for the largest share of approvals at P343.47 billion or 74.25% of the total.

This was followed by investments in real estate activities (P36.55 billion); air and water transport (P36.25 billion); mining and quarrying (P14.64 billion); hotel, tourism and accommodation projects (P7.58 billion); and manufacturing (P7.22 billion).

Department of Trade and Industry (DTI) Secretary and BoI Chairman Maria Cristina A. Roque said the increase in BoI-approved projects in the January-to-June period reflects investors’ sustained confidence in the Philippines amid geopolitical uncertainties.

“The strong growth in DTI-BoI-approved investments reflects investors’ confidence in the Philippines and in the government’s reform policies,” she said.

“The country’s recent attainment of upper-middle income country status highlights the positive impact of sustained investments and sound economic reforms,” she added.

Earlier this month, the World Bank classified the Philippines as an upper-middle income country after it posted a record gross national income per capita of $4,850.

DTI Undersecretary and BoI Managing Head Ceferino S. Rodolfo noted that policy support and facilitation measures are in place to guide investments from approval to implementation.

“With the implementation of the CREATE MORE (Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy), the Strategic Investment Priority Plan (SIPP), and the Green Lane for Strategic Investments, the BoI is ensuring that investors have both the policy support and facilitation mechanisms needed to bring projects from approval to operation,” he said.

Domestic investments surged by 41% to P447.32 billion as of end-June, with the Cordillera Administrative Region posting the highest level of investment pledges at P150.4 billion.

This was followed by the Ilocos Region at P144.13 billion, National Capital Region at P48.78 billion, Central Luzon (P33.55 billion), CARAGA (P16.93 billion), and Central Visayas (P13.97 billion).

Meanwhile, foreign investments stood at P14.16 billion as of end-June, with Singapore as the top foreign source at P3.15 billion.

Other foreign commitments came from China (P1.13 billion), United States (P1.06 billion), Australia (P961 million), and Japan (P873 million).

“The robust investment performance builds on the BoI’s broader efforts to strengthen the country’s investment ecosystem and position the Philippines as a preferred destination for strategic and high-impact investments,” BoI said.

Mr. Rodolfo also noted that the updated SIPP is critical in ensuring that the BoI meets its P1-trillion target in investment approvals this year.

Approved in June, the 2026 SIPP expands the scope of fiscal incentives under Republic Act No. 12066 or the CREATE MORE Act to cover frontier industries like artificial intelligence and high-value manufacturing.

The surge in the BoI’s first-half investment approvals amid geopolitical risks show that investors are prioritizing projects with long-term prospects, said Diana R. Rueda, an economics professor at the University of Asia & the Pacific.

“Most BoI-approved projects have long investment horizons, and investors tend to focus more on economic fundamentals, policy consistency, and the ease of doing business,” she said in a Viber message.

However, Ms. Rueda cited the need to intensify efforts to attract more investments in high-value manufacturing to cushion the economy against external shocks.

“Expanding the country’s manufacturing base would strengthen economic resilience, diversify sources of growth, and reduce vulnerability to external shocks,” she said.