Stock News 2011: BoI investments jump 183% as of Feb

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New projects registered with the Board of Investments (BoI) from January to February 15 this year jumped 183 percent to P11.398 billion from P9.917 billion in the same period last year.

BoI executive director Lucita P. Reyes said the investments represent the combined cost of 29 projects approved for the first one and a half month period this year. There were only 22 projects registered with the BoI in the same period last year.

Based on the BoI data, these new projects are expected to generate 3,661 jobs once they go into full commercial operation.

"We have good prospects this year, this will be a very good year because of the thrust of the government to continue improving the investment environment," Reyes said.

Last year, the BoI registered P301 billion worth of investments, surpassing its 2010 target of P287 billion.

For 2011, the BoI has set a lower investments target of P296 billion because the agency has decided not to register anymore the independent power project administrators, which account for a significant share of the agency’s project approvals in 2010.

http://www.mb.com.ph/node/305311/boi-inve