Daily News

BOI-approved investments surge 112%

Investments approved by the Board of Investments (BOI) soared by 112% to P645.3 billion in the first semester from P304.4 billion a year ago, driven by projects in the infrastructure, transportation and real estate sectors. Once operational, the projects will generate 27,082 jobs, 57.3% higher than the 17,214 in the same period last year. Among the recently approved projects are San Miguel Aerocity Inc.’s P530.8 billion airport project in Bulacan, Seaoil Philippine Inc.’s P654 million downstream petroleum project in La Union, Gigasol3 Inc.’s P2.4 billion 63-megawatt solar project in Central Luzon, Royale Cold Storage North Inc.’s P1.5 billion storage facility in Laguna and Heineken International BV’s P1 billion brewery plant.