The government aims to attract P1.25-trillion investment approvals this year to help the economy recover from the pandemic.
Originally, the Board of Investment (BOI) targeted the figure in 2020 but it was recalibrated due to impacts of the global health crisis.
“We are working hard for a V-shape Philippine economic recovery in 2021 and hence targeting the original 2020 pre-pandemic goal for investments,” DTI Secretary Ramon Lopez said.
Lopez, who is also the BOI chair, added the agency expects to see more investments in road, ports, and telecommunications infrastructure as well as investment commitments in water and power sectors.
He said investors anticipate the passage and enactment of the Corporate Recovery and Tax Reform (CREATE) bill, adding the legislation will be a game changer in the country’s investment environment.
“It will definitely remove uncertainties in the incentives regime and give a big boost in attracting investments for the country,” Lopez said.
Photo by PNA