BOI to recalibrate 2025 investment approval target

MANILA, Philippines — The Board of Investments (BOI) is reviewing its investment approvals target for the year following the nearly 50-percent drop in the January to May tally.

Trade Secretary Cristina Roque, who also serves as BOI chair, told reporters yesterday that the agency is set to meet this week or next week to review its P1.75-trillion target for this year.

She said the BOI would also meet with other investment promotion agencies, including the Philippine Economic Zone Authority, to revisit the investment approvals targets.

“It’s to review and to really see how we can, of course, go higher,” she said.

She said the reciprocal tariffs unleashed by the United States on trading partners are among the factors being considered in the review of the BOI’s investment approvals goal.

“Of course the tariff issue is also part of (that)…Our export to the US is also substantial,” she said.

The reciprocal tariffs imposed by the US have triggered uncertainty globally, leading to a more cautious approach of investors.

This guarded investor behavior was reflected in investments approved by the BOI, which fell by 48.5 percent to P329.52 billion in the January to May period from P640.22 billion in the same period last year.

Latest data from the Philippine Statistics Authority showed that total investments approved by investment promotion agencies, including the BOI also plunged by 43.7 percent to P181.93 billion in the first quarter from P323.27 billion in the previous year.

Despite the decline, Roque said the BOI is still hoping to hit the P1.75-trillion investments target for this year.

If the target is realized, BOI-approved investments will be achieving a new milestone and exceeding last year’s all-time high of P1.62 trillion.

According to Roque, the government also remains hopeful investment promotion agencies’ approved investments this year would match last year’s P1.95 trillion.

She also said the signing of a Joint Memorandum Circular (JMC) by government agencies part of the Investment Facilitation Network (INFA-Net) yesterday to harmonize investment facilitation strategies and improve support for investors in the Philippines, is expected to make it easier to do business in the country.

“This JMC marks a decisive shift toward a truly coordinated, whole-of-government approach to investment facilitation,” Roque said.

“It reflects our shared commitment to break down barriers, reduce red tape and send a strong message that we are open for business,” she added.

Originally established as the Investment Promotion Unit Network, the group was formally called INFA-Net in June last year, with the BOI serving as chair and secretariat, to show a renewed and strengthened commitment to collaboration for improved investment facilitation.

Special Assistant to the President for Investment and Economic Affairs Frederick Go said the initiative is a significant step as the country aims to transform the Philippines into a premier investment destination.

“Through enhanced inter-agency coordination, we are cutting red tape and creating a more business-friendly environment. The red carpet is being rolled out for sustainable, investment-led growth,” Go said.

Roque said the government would also continue to conduct roadshows to encourage investments into the country.

Go said the government would be promoting to the world the CREATE MORE Act, which seeks to enhance the incentives system,  by visiting the US, Japan, the Middle East, the European Union, as well as China.

“We hope that the bandwagon effect of investing in the Philippines really takes place so that we can really build a sustainable economic growth story for our country. The goal is to make the message clear that the Philippines is open for business and is the next economic superstar in Southeast Asia,” he said.