BOI project approvals nearly halved to P330 billion

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June 2, 2025 | 12:00am

In first five months

MANILA, Philippines — Investments approved by the Board of Investments (BOI) fell by nearly 50 percent in the January to May period this year, reflecting a slowdown, but the agency remains optimistic as it expects to process at least P1.12 trillion worth of investments over the next two quarters.

Data from the BOI showed that the agency approved P329.52 billion worth of investments from January to May this year, down by 48.5 percent from P640.22 billion in the same period last year.

The BOI’s investment approvals in the first five months of the year are for four projects expected to create 499 jobs.

Of the investments approved in the January to May period, P61.52 billion are from foreign sources, while P268 billion are from domestic firms.

Earlier, the BOI said the slowdown in investment approvals this year was expected and reflects the natural cycle of investment activity.

The investment promotion agency said external factors such as tighter global financial conditions and heightened geopolitical uncertainty are leading to a more cautious investment approach.

Citing the United Nations Conference on Trade and Development, the BOI said the downtrend in foreign direct investments is not just being seen in the Philippines, but also in the region and globally, with the United States’ reciprocal tariffs on trade partners affecting investor behavior.

While BOI-approved investments dropped in the January to May period, the agency said there are at least P1.12 trillion worth of investments for projects to be processed in the pipeline.

Of the total investments expected to be processed, P290 billion are from 65 projects, which are already undergoing checklisting or the initial phase of the registration process.

During checklisting, the BOI assesses the eligibility for registration of project proponents that have formally signified their intent to apply and submitted the required documents to support the application.

Of the 65 projects being checklisted, 12 are strategic projects with P116.81 billion worth of investments that have been approved for green lane services or expedited processing.

The BOI also said P832 billion worth of investments for three major projects in the pipeline are currently securing the necessary documents to qualify for registration.

These cover two large, utility-scale renewable energy (RE) projects and one strategic infrastructure project, which have all been granted green lane certification to enjoy streamlined processing of permits.

Apart from RE and infrastructure, the projects in the pipeline involve information technology-business process management, manufacturing, logistics, food security and mass housing.

Once approved, the projects in the pipeline are expected to generate around 4,278 jobs.

“We are now entering a crucial implementation phase where many of our previously approved investments are being realized on the ground. At the same time, we are working hard to sustain momentum by pushing a new wave of projects toward registration, ensuring that today’s pipeline becomes tomorrow’s operational infrastructure, jobs and innovation,” Trade Secretary and BOI chair Cristina Roque said.

To encourage firms to set up or expand operations in the country, the BOI is ramping up investment promotion efforts through roadshows highlighting the CREATE MORE Law, which aims to enhance the fiscal incentives system.