BOI-approved investments down 66% in seven months

MANILA, Philippines — Investments approved by the Board of Investments (BOI) declined by 66 percent in the January to July period from a year ago, reflecting cautious investor sentiment following the United States’ imposition of reciprocal tariffs.

Data from the BOI showed that it approved investments amounting to P398.94 billion in the January to July period, lower than the P1.16-trillion investments cleared in the same period last year.

The BOI-approved investments during the review period are for 111 projects.

The bulk, or 83 percent of the investment approvals from January to July, came from domestic firms.

In particular, investments from local companies amounted to P329.56 billion in the seven-month period, down by 62 percent from P869.70 billion in the same period a year ago.

Foreign investments also fell by 76 percent to P68.88 billion during the review period from P288.26 billion a year ago.

The BOI-approved investments from January to July are expected to create 23,099 jobs, lower than the 27,264 jobs in the same period a year ago.

Last month, Trade Secretary and BOI chair Cristina Roque said the agency is sticking to its P1.75 trillion investments approval target for the year, even as the US’ imposition of reciprocal tariffs has affected investor sentiment.

She said the government aims to hold more investment missions this year.

Last year, investments approved by the BOI reached an all-time high of P1.62 trillion.

The BOI said investments from the Association of Southeast Asian Nations (ASEAN) members approved by the investment promotion agency have reached P252 billion since 2020, reflecting the Philippines’ strengthening position as a regional investment hub.

From January to July, BOI-approved investments from ASEAN countries reached P58.07 billion.

In terms of investment sources, the BOI said Singapore has consistently been the top contributor since 2020.

By sector, information and communication received the biggest share of investments from ASEAN, amounting to P169.59 billion since 2020.

The power sector, including renewable energy, placed second, attracting P74.20 billion worth of investments from ASEAN firms.

Other sectors that drew ASEAN capital include manufacturing (P5.58 billion); administrative and support services (P1.41 billion); and agriculture, forestry and fishing (P930 million).

These BOI-approved investments from ASEAN covering the period of 2020 until July 2025 are expected to create 15,358 new jobs for Filipinos.

Roque emphasized that the agency remains focused on advancing President Marcos’ priorities of pushing for the development of micro, small and medium enterprises and strengthening investment ties with other ASEAN member countries, particularly in the digital economy sector.

For the BOI, sustained investments from ASEAN will help achieve a virtuous development cycle for a more competitive, resilient and future-ready economy.

“As we build stronger trade and investment ties with our ASEAN neighbors, these numbers reflect the growing confidence of foreign investors in the Philippines as a place for business growth. We will keep working to create a stable and welcoming business environment, one that brings in more investments and opens up real opportunities for Filipinos,” Roque said.