Wednesday, 03 August 2011 13:05
“The Investment climate in the country remains very healthy as our data show all-time highs in all significant aspects of investment,” Department of Trade and Industry (DTI) Industry and Investments Group Undersecretary Cristino L. Panlilio said.
Compared last year, Usec. Panlilio underscored significant increase in the investments registered with the Board of Investments (BOI) and the Philippine Economic Zone Authority (PEZA) this year.
“During the first five months of 2011 we have registered a record total of P259.95 billion, that’s 189 percent higher compared to the P90-billion approved investments generated in the same period last year,” Usec. Panlilio said.
According to Panlilio, the major sources of said investments were local investors with committed investments worth P224.57 billion while foreign investors contributed a total of P35.37 billion.
The first year of the Aquino administration, from July 2010 to May 2011, saw a whopping P535.19 billion approved investments, a considerable increase of 73 percent from the P309.87 billion posted in the same period last year.
Meanwhile, Usec. Panlilio divulge the 2011 Investment Priority Plan comprising of 13 priority sectors to include agriculture/agribusiness and fishery, creative industries, shipbuilding, mass housing, energy, infrastructure, research and development, green projects, tourism, motor vehicles/transportation, mining, strategic projects and projects under the Public-Private Partnership (PPP) program.
Usec. Panlilio highlighted the inclusion of motor/vehicles transportation and mining as major additions to the list. “We included them to show how important their contributions are to the country’s economy,” he stressed.
The motor vehicle was originally listed under the Strategic Project, but industry players are complaining of stringent requirements under the said heading including an investment of $300 million, employment of 1,000 workers or the introduction of new technology to avail of BoI incentives.
Panlilio said the motor vehicle/transportation list will have a separate implementing rules and regulations that would be in line with the requirements under the Motor Vehicle Development Program (MVDP).
While on mining, Panlilio said the sector is included in both the priority list and the mandatory listing because it has specific law The Mining Act.
Panlilio added that the listing of mining under the priority list is meant to extend incentives to mining projects that are not granted under the Mining Act.(CNEX/PIA9-BST)
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