INQUIRER.NET (May 3, 2018)
According to the Bureau of Trade and Industrial Policy Research, the value of projects approved by the Board of Investments and the Philippine Economic Zone Authority was 53-percent higher than the P119.3 billion in the first quarter of 2017.
Of this year’s first-quarter projects, 83 percent were with the BOI at P152.1 billion while Peza accounted for P30.7 billion.
At the same time, Peza-approved projects dropped in value from P51.6 billion previously.
Plaza attributed the decline to uncertainties created by the Tax Reform for Acceleration and Inclusion or TRAIN law.
“So, until our government can assure and stabilize our laws and policies, new investors will prefer to invest in other countries with stable and attractive incentives,” Plaza said.
The amount was more than 20 times the P4.8 billion approved in the first quarter of 2017.
Investments flowing in from Japan accounted for 57 percent or P7.86 billion.