Image via WikipediaMANILA, Philippines – As investments now reaching over P457 billion and expected to exceed the 2010 growth targets, Trade and Industry Secretary Gregory L. Domingo sees double-digit growth in investments next year with infrastructure projects and the government’s six big winners as growth drivers.
Domingo said this as new investments registered with the Board of Investments (BoI) and the Philippine Economic Zone Authority (PEZA), the country’s premier investment generating agencies, are expected to exceed targets this year.
As of December 13, BoI-registered investments, as measured by project cost, already reached P257 billion while PEZA investments are expected to exceed its P200 billion target for the year as of December .
“We are going to exceed our 15-10-10 growth targets for the year,” said PEZA Director-General Lilia B. De Lima told reporters, but did not divulge the latest investments figure.
PEZA is eyeing for a 15 percent growth in investments and 10 percent growth each for exports and employment.
In addition, BoI executive director Lucita P. Reyes said the agency has approved a total of P257 billion as of its last meeting.
“We only need one big project to exceed our last year’s total investments of P287 billion,” Reyes said.
“We are more bullish next year on investments,” Domingo told reporters at the sidelines of the recently concluded Philippine Retailers Association’s 2010 Awardees for Best Retailers and Shopping Centers.
“We expect double-digit growth next year,” Domingo said.
http://www.mb.com.ph/node/292685/doubledigit-inve
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