Daily News

BoI-approved investments plunge

The Board of Investments (BoI) saw pledges sink by 71% in the first four months of 2020 as the coronavirus disease 2019 (COVID-19) disrupted economic activity in the country. The BoI, which accounts for the bulk of planned projects registered with investment promotion agencies (IPA), on Thursday said it approved P84.1 billion year-to-date in April, well below the P286.7 billion in the same period last year. Domestic investments fell 68% to P70.7 billion from a year earlier, while foreign investments dropped 80% to P13.4 billion from P66.9 billion.