Foreign investments increase by 47.18% - BOI, PEZA
Manila (4 September) -- As recorded from January to July of 2007, the Board of Investments (BOI) and the Philippine Economic Zone Authority (PEZA) disclosed that Foreign investments has significantly increased by 47.18 percent to P75.94 billion with most businesses coming from the United States with commitments of P27.3 billion, followed by Japan with P18 billion, and Norway with P11.17 billion.
As a result of this, investments in the country's manufacturing and service sector has likewise recorded a 28 percent growth reaching P101.12 billion.
In the same report, domestic investments were slightly higher by 13.08 percent this year to P73.13 billion. Domestic top investors were SN Aboitiz Power Inc., and the Lopez-led First Gen Corp. Aboitiz put in P27.93 billion to rehabilitate the 360-megawatt Magat hydro-electric power plant in Isabela while First Gen poured in P7.72 billion to upgrade the 112-MW Pantabangan/Masiway hydro-electric complex in Nueva Ecija.
Information technology investments, meanwhile, recorded an increased of 60.51 percent to P10.21 billion in the same period. (PIA-MMIO) [top]