DTI exceeds PHP1.62T investment target, energy sector surges 40%

The Department of Trade and Industry (DTI) reported that it exceeded its investment targets for 2024 with PHP1.62 trillion in investments approved by the Board of Investments (BOI), surpassing both the 2023 figure of PHP1.26 trillion and this year's target of PHP1.5 trillion.

The energy sector, particularly renewable energy projects, recorded a significant increase in approvals totaling PHP1.38 trillion, up by 40 percent from the previous year.

Other sectors such as air and water transport, real estate activities (mass housing), manufacturing, water supply, sewerage, waste management, agriculture, forestry, fishing, wholesale and retail, and information technology-business process management also saw substantial growth in investments.

The Philippine Economic Zone Authority (PEZA) approved PHP214.17 billion in investments, surpassing the target of PHP200 billion for the year.

Trade Secretary Cristina Roque emphasized the government's commitment to policies that attract investments and promote economic growth, aiming to build on this positive momentum as 2025 approaches.