BOI 2018 Registered Investments at record high
Investor confidence in Northern Mindanao breached new highs in 2018 with Region 10 accounting for the biggest share of the record breaking investments registered with the Board of Investments (BOI).
Investments approved by the Board of Investments (BOI) hit a new all-time high this year, exceeding the agency’s P680-billion target.
BOI Investment Registration Performance 2017 vs 2018.
Final figures from the BOI showed the agency approved P907.2 billion worth of investments for this year, 47 percent higher than the previous record high of P617 billion in 2017.
By region, Region X or Northern Mindanao accounted for the lion’s share of investment with P228.8 billion, or 25.2% of the total BOI Registered Projects for 2018, well above the P7.2 billion a year ago, for an astounding 3,063% increase.
Region IV (CALABARZON or Cavite-Laguna-Batangas-Rizal-Quezon) ranked second with P185 billion and Region III (Central Luzon) third with P169.3 billion. The best the National Capital Region could manage was fourth with P123.6 billion.
Other performers include Region VII (Central Visayas) with Php61 B, Region XIII (Caraga) with Php58.2 B and Region XI (Davao Region) with P18.8 B.
The Philippine Statistics Authority earlier reported that even by the end of the third quarter of 2018, Region X (Northern Mindanao) was already ahead of the pack with P15.5 billion in registered projects, accounting for 33.7% of the BOI’s registered total for the period.
Central Luzon (Region III) was second at P 13.5 billion, (29.5%) and the National Capital Region third with P8.3 billion (18.2%).
“Given the epic surge in investments for 2018, it is but inevitable to aim for another historic milestone—the trillion mark next year. We are confident of hitting yet another growth in investment registrations next year with the impending entry of big-ticket projects as concrete fruits of the Administration’s investment road shows,” said Trade Undersecretary and BOI Managing Head Ceferino Rodolfo.
Rodolfo said the approved projects have boosted the dispersal of investments to the regions as most projects are outside Metro Manila with total regional investments accounting for 86 percent of the total figure.
Overall, domestic investments reached P803.2 B, up 35 percent from last year’s Php595 B. Approved foreign investments likewise surged to P104 B, a 378 percent jump from just P21.7 B in 2017.
China topped the list of foreign investors for 2018 with P48.7 B registered investments, up 8,364 percent from Php575.8 M last year. This amount still does not include the planned USD 4.4-B Philippine Iron and Steel Project at the Phividec Industrial Estate-Misamis Oriental, the biggest industrial investment from China to to date.
The British Virgin Islands accounted for P15.6 B, sourced through the renewable projects of Pulangi Hydro Power Corp and the projects of Victorias Milling Company and two mass housing projects of Raemulan Lands, Inc. Singapore was third with a projected capital inflow of P13.6 B mainly through Vires Energy Corporation and Indonesia fourth with P7.5 B mostly through Citra Central Expressway Corp., Japan (P4.2 B) by way of Toyota and Mitsubishi projects and Malaysia (P2.9 B) through retailing.
The Board of Investments Region 10 office will provide a more detailed breakdown of the planned projects once this has been transmitted from the BOI head office where most big-ticket projects are usually registered.
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