7 months Investment pledges up 60% in Q1 – DTI Manilatimes |Biz
Investment approvals were up 60 percent in the first quarter from a year earlier, the Department of Trade and Industry said, exceeding a 50-percent growth forecast. The Board of Investments greenlighted P243-billion worth of investment pledges in the January-March period, up from P152.1 billion posted last year. In March alone, investment approvals grew nearly seven-fold to P141.25 billion from P20.48 billion a year earlier. It fueled a recover from a 95-percent year-on-year dip in February. Electricity and power projects led first quarter investment approvals at P148 billion, followed by manufacturing (P43 billion) and information and communications technology (P33.2 billion). Among ... more