PEZA and BOI Report Robust Investment Growth Under Marcos Administration

The Philippine Economic Zone Authority (PEZA) and the Board of Investments (BOI) have reported significant growth in investment approvals under the Marcos administration, showcasing a favorable investment climate and high investor confidence in the country.

Since the start of President Ferdinand R. Marcos Jr.'s administration in July 2022 until April 2024, the BOI has registered a total of PHP2.36 trillion in approved investments. BOI Director Sandra Recolizado announced at a news forum in Quezon City that these approvals cover 157 projects, equivalent to USD42 billion in investments.

Recolizado emphasized that these figures do not include investments approved by PEZA and other investment promotion agencies. She acknowledged a decline in foreign direct investments (FDI) in the first quarter of 2024 but remained optimistic about the investment climate picking up throughout the remaining three quarters.

Positive trends in FDI were highlighted, with the country experiencing a 9.59 percent increase in FDI from October to November 2023. Recolizado noted, “For us, this is a good indicator of realized investments because these commitments are transformed into realized investments and are reflected as FDI. So, FDI in the country has increased for four consecutive months.”

She further detailed the growth, stating, “From November to December 2023, FDI increased by 30 percent. In January 2024, it surged by 90 percent, and in February 2024, it grew by 30 percent. The cumulative growth rate comparing January to February 2023 and January to February 2024 shows a 48 percent increase.”

The BOI has been proactive in attracting more investments through outbound missions targeting specific sectors and countries. These efforts focus on the Philippines’ priority sectors, including electric vehicles, renewable energy, smart manufacturing, smart agriculture, semiconductors and electronics, data centers, telecom infrastructure, and cybersecurity.

Recolizado also highlighted the impact of business forums and President Marcos Jr.'s foreign tours in luring more investments to the country. “The number one salesman of the Philippines is the President,” she stated, acknowledging the role of presidential visits in promoting the Philippines as a prime investment location.

As PEZA and BOI continue their efforts, the country looks forward to sustained growth and strategic positioning as a regional hub for smart and sustainability-driven industries.