BOI investment approvals hit PHP 900 billion in nine months

The Board of Investments (BOI) approved PHP 900.06 billion worth of investment projects in the first nine months of 2026, a 53.05% increase from a year earlier, bringing the agency within striking distance of its PHP 1 trillion full-year target.

The approvals covered 207 projects expected to generate 21,524 jobs nationwide, with renewable energy developments accounting for the overwhelming majority of investment commitments.

Western Visayas emerged among the fastest-growing investment destinations, recording a 296.5% increase in approved projects from PHP 10.79 billion in the first nine months of 2025 to PHP 42.77 billion during the same period this year.

The investment surge signals expanding business activity that could create employment opportunities, improve infrastructure, and strengthen regional economies, although the actual benefits will depend on whether approved projects proceed to construction, commercial operations, and sustained hiring.

Investment approvals represent commitments by developers and investors rather than money already spent, meaning the projected jobs and economic benefits are not yet guaranteed.

The Department of Trade and Industry (DTI) reported that the BOI had achieved 90% of its annual investment approvals target by the end of September, leaving approximately PHP 99.94 billion to be secured during the final quarter.

Trade Secretary and BOI Chair Cristina A. Roque attributed the performance to reforms introduced under President Ferdinand Marcos Jr. to improve the country’s investment environment.

“The surge in investment approvals recorded during the first nine months of 2026 reflects growing investor interest in the Philippines as a premier destination for growth and expansion. The DTI through BOI will continue pursuing investments that advance our industrial capabilities, drive technological innovation, and generate high-value employment nationwide,” Secretary Roque said.

September alone accounted for PHP 278.21 billion in approved investments, nearly five times the PHP 56.49 billion recorded during the same month in 2025.

The monthly figure represented a 392.5% year-on-year increase, covering 27 approved projects expected to generate at least 2,068 jobs.

The September performance provided a major boost to the nine-month total, reflecting continued investor interest in energy, infrastructure, logistics, digital industries, and tourism-related developments.

The electricity, gas, steam, and air-conditioning supply industry remained the dominant investment destination, accounting for PHP 740.14 billion, or 82.23% of all BOI-approved commitments.

Investment approvals in the sector increased 75.2% from PHP 422.34 billion during the first nine months of 2025, driven by major hydropower, wind, solar, and other energy projects.

These projects are expected to generate 1,903 jobs, representing a 71.6% increase from the 1,109 jobs projected during the comparable period last year.

Despite accounting for more than four-fifths of approved investment value, the energy sector represents less than one-tenth of the total projected employment, reflecting the capital-intensive nature of large power generation developments.

The concentration of investments in energy also underscores the importance of adequate and reliable electricity supply to the country’s industrial expansion.

Additional power generation capacity could support manufacturing, commercial operations, and other electricity-intensive industries, although its eventual effect on consumer electricity prices will depend on generation costs, market conditions, and regulatory arrangements.

Outside energy, real estate activities attracted PHP 46.66 billion in approved investments, followed by transportation and storage at PHP 36.47 billion.

The information and communication sector recorded PHP 18.36 billion in approvals, while manufacturing received PHP 14.86 billion.

Investment approvals in information and communication increased 96.47% from the corresponding period in 2025, reflecting stronger commitments to digital infrastructure and related business activities.

Accommodation and food service activities also posted substantial growth, with approved investments rising 265.5% to PHP 8.13 billion.

The expansion could support tourism-related enterprises, hospitality businesses, and their suppliers as projects move toward implementation.

Water supply, sewerage, waste management, and remediation activities registered one of the largest percentage increases, surging 3,116.6% from PHP 209.73 million to PHP 6.75 billion.

The increase highlights growing investment commitments in environmental infrastructure and public utility services, which are important to urban development, sanitation, and public health.

Wholesale and retail trade, including the repair of motor vehicles and motorcycles, posted a 314.7% increase to PHP 3.75 billion.

The broad distribution of approvals across industries suggests opportunities for additional economic activity beyond the energy sector, particularly through construction, logistics, technology services, and business supply chains.

Domestic investors continued to dominate BOI approvals, contributing PHP 808.96 billion, equivalent to 89.88% of the reported total.

The amount represented a 60.5% increase from PHP 503.95 billion recorded during the first nine months of 2025.

The substantial share of Filipino investors indicates that domestic businesses remain the principal source of the BOI’s approved investment pipeline.

Among regions, the Cordillera Administrative Region attracted the highest investment commitments at PHP 218.48 billion.

The Ilocos Region ranked second with PHP 199.75 billion, followed by Central Luzon at PHP 130.81 billion.

Eastern Visayas recorded PHP 76.84 billion, while Calabarzon attracted PHP 58.37 billion and the National Capital Region posted PHP 49.88 billion.

Caraga registered the fastest investment growth nationwide, with approvals jumping 1,731.5% from PHP 924.7 million to PHP 16.94 billion.

Western Visayas followed with a 296.5% increase, bringing its nine-month investment approvals to PHP 42.77 billion.

For Western Visayas, the sharp increase could provide opportunities for additional employment, local procurement, and business expansion as approved projects advance.

The actual regional benefits will depend on the industries involved, the location of individual projects, their implementation schedules, and the proportion of jobs and contracts available to local workers and enterprises.

The BOI did not provide a provincial breakdown of Western Visayas’ approved investments in its latest announcement, making it unclear how much of the regional total was allocated to Iloilo, Aklan, Antique, Capiz, and Guimaras.

The Ilocos Region also recorded strong investment growth of 136.6%, rising from PHP 84.41 billion to approximately PHP 199.75 billion based on the regional ranking, although a separate figure in the BOI release placed the latest amount at PHP 199.44 billion.

Foreign investment commitments likewise maintained momentum, reaching PHP 90.40 billion as of September 2026.

Singapore remained the largest source of foreign investment approvals at PHP 42.71 billion, which the BOI reported as accounting for 46.9% of the foreign investment total.

South Korea followed with PHP 27.44 billion, while China contributed PHP 4.07 billion.

Japan accounted for PHP 3.11 billion, the Netherlands PHP 2.15 billion, Australia PHP 1.57 billion, and the United States PHP 1.33 billion.

South Korea registered the largest percentage increase among the major foreign investment sources, with commitments surging 10,332.7% from PHP 263 million during the corresponding period in 2025.

Australian investment approvals rose 657.3% from PHP 207.9 million to PHP 1.57 billion.

Commitments from China increased 348.1% from PHP 908.2 million to PHP 4.07 billion.

The increases reflect stronger investment commitments from several major trading and economic partners, although the figures do not necessarily represent funds already transferred into the country.

Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo expressed confidence that the agency would sustain investment promotion efforts during the final quarter.

“As we enter the final quarter in 2026, the BOI will continue to actively promote the Philippines as a prime destination for investments. The strong approvals recorded thus far demonstrate not only the resilience of the Philippine economy but also the interest of investors in the country’s long-term growth prospects. We remain optimistic that investment momentum will continue through the remainder of the year,” said Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo.

As the government’s primary investment promotion agency, the BOI is responsible for encouraging investments in priority industries, facilitating project registration, and supporting policies intended to strengthen the country’s industrial competitiveness.

The agency spearheaded the formulation of the 2026 Strategic Investment Priority Plan (SIPP), which identifies preferred economic activities eligible for fiscal incentives under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy, or CREATE MORE, Act.

President Marcos approved the 2026 SIPP through Memorandum Order No. 47, establishing priorities for investments that support job creation, industrial development, technological innovation, and higher-value economic activities.

The plan includes sectors such as agriculture, manufacturing, infrastructure, clean energy, emerging technologies, and other strategic industries.

The BOI is also leading the implementation of the Green Lane for Strategic Investments, a government mechanism designed to accelerate the processing of permits, licenses, and other regulatory requirements for qualified projects.

Established under Executive Order No. 18 in 2023, the system aims to reduce bureaucratic delays by improving coordination among government agencies and local governments.

Faster processing can help investors move projects toward implementation, although developers must still comply with applicable environmental, technical, and other regulatory requirements.

For the government, the strong approval figures represent a substantial investment pipeline as it seeks to expand the economy’s productive capacity and generate employment.

However, the Philippine Statistics Authority distinguishes approved investment commitments from actual investments because projects may take years to materialize or may not proceed as originally planned.

The same distinction applies to employment projections, which represent jobs expected from approved projects rather than positions already created.

With PHP 900.06 billion in approvals secured through September, the BOI needs less than PHP 100 billion in additional commitments to meet its 2026 target.

The bigger economic test will be how much of the approved investment pipeline translates into operating businesses, dependable infrastructure, and lasting employment opportunities for Filipinos, including those in rapidly growing investment destinations such as Western Visayas.