Combined investments approved by the Board of Investments and the Philippine Economic Zone Authority increased 4.3 percent in 2015 to P661.82 billion from P634 billion in 2014, data from the Trade Department show.
The BoI approved 358 investment projects worth P366.74 billion in 2015, up 3 percent from P354.76 billion in 2014, while Peza cleared 598 projects worth P295 billion, or 6 percent higher than the previous year’s P279.5 billion.
BoI said the projects it approved, once fully operational, were expected to generate 58,252 new jobs.
The increase in BoI-registered investments was traced to the approval of big power projects, such as those by Olympia Violago Water & Power Ltd. Co. worth P69.13 billion; San Buenaventura Power Ltd. Co., P49.45 billion; and Semirara Mining and Power Corp., P29.50 billion.
The agency said 55 energy-related investment projects worth P246.42 billion would generate total capacity of 2,095.92 megawatts.
These energy projects were higher than 2014’s 37 power-related projects worth P174.69 billion with total generating capacity of 1,542.404 MW.