DTI said the P734 billion investment approvals — covering 200 projects — were expected to yield nearly 39,000 jobs.
MANILA — Investment approvals and registrations have so far reached P734 billion this year, the Department of Trade and Industry said on Tuesday.
Trade Undersecretary Ceferino Rodolfo said P427 billion were foreign investments, 90 percent of which were from the renewable energy sector and from countries in the European Union such as Germany. The total investments from January to September were 102 percent higher than the P362 billion booked in the same period last year, he said.
Meanwhile, data shared with ABS-CBN News by Rodolfo showed the P734 billion investment approvals — covering 200 projects — were expected to yield nearly 39,000 jobs. Rodolfo credited the investments to President Ferdinand Marcos Jr’s trips abroad as the source of the investments were the same countries visited by the President.
"In the past makikita natin hindi naman tayo naging darling of EU countries because of some reasons. Pero ngayon nakikita natin na when the President said we are open for business, tsaka nakikita naman nila 'yung policy reforms dito sa Pilipinas, pumapasok sila," he said. Meanwhile the Bangko Sentral ng Pilipinas earlier reported last week that net inflows of foreign direct investments from January to July settled at $4.7 billion. This was 14.7 percent lower than the $5.
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