Previous business surveys of the Bangko Sentral ng Pilipinas (BSP) last year 2011 said that businesses in the Philippines will remain optimistic and will bloom and their ability to generate profit will still be intact; and it is indeed up according to latest business reports.
Investments in the Philippines is up to 25 % percentage increase in April 2012 from “..only P37.56 billion a year ago…” into P133.18 billion as registered in the Board of Investments (BOI).
The increase in investment was brought by two power projects approved by the Board of Investments (BOI) during the month of April. The two power projects are:
(1) The P21.78 billion project of South Luzon Thermal Energy Corp. –It is a company jointly owned by the Ayala group and by the Trans-Asia Oil and Energy Development Corporation.
(2) The P49.45 billion expansion of the 600-megawatt Masinloc coal facility own by Masinloc Power Partners Co.Ltd. The Masinloc Power Partners Co. Ltd is the Philippine local arm of the US power giant AES Corporation.
Investment pledges or sure investment contracts in the Philippines according from the data of Board Of Investments (BOI) on the first four months of 2012 surged into 158 projects that are expected to generate 22,114 new jobs once these projects become operational.
Biggest investment commitments came from (a.)Electricity (b.) gas (c.) steam sector (d.) air-conditioning sector (e.) real estate and (f.) mining and quarrying.
Moreover, other investment options can also include, according to Trade Undersecretary and Board of Investments (BOI) managing head Adrian S. Cristobal; agribusiness, manufacturing, and tourism.
“We see rising investor interest in strategic sectors such as agribusiness, manufacturing, and tourism. Domestic investors’ confidence in the economy continues to rise, and the same goes from foreign investors for the past four months..”
In other hand, foreign investments grew by 26% in the first four months of 2012 from P8.084 billion last year 2011, into P10.191 billion this year 2012.The greatest contributor of foreign investment came from Thailand, accounting for P3.62 billion for January up to April 2012.
This was seconded by Japan, with P1.02 billion worth of investment pledges which is amounting to 5 or 10 power projects that will generate new jobs for unemployed Filipinos.
Meanwhile, the Board of Investments (BOI) is still pilot-testing some other business sectors like agribusiness, mass housing, and tourism for generation of more investment pledges or investment contracts this year.
The results of pilot-testing “..will determine if the streamlined process can be applied to the rest..” of the type of business sectors that will be applied under Philippine’s blueprint for investment promotions – Investments Priorities Plan.