BOI projects jump 338% to PHP 47 billion

The Board of Investments approved 35 projects worth PHP 47 billion from January to February 2026, up from eight projects in the same period last year, as the Philippines drew stronger interest from both local and foreign investors, according to the Department of Trade and Industry.

Foreign investments surged 943.4% to PHP 3.1 billion in the first two months of 2026 from PHP 0.3 billion a year earlier, signaling what officials described as rising confidence in the country’s investment climate.

Trade Secretary and BOI Chairman Cristina Roque said the increase supports the government’s broader economic priorities, especially energy security and the shift to cleaner power sources.

“The strong increase in BOI-approved projects reflects growing investor confidence in the Philippines and the continued inflow of high-value investments that support our economic priorities. Notably, the significant investments in renewable energy will play a crucial role in strengthening our energy security amid current challenges, while accelerating the country’s transition to a more sustainable and resilient energy future,” Secretary Roque said.

Energy, including renewable energy, accounted for the biggest share of approved investments at PHP 22.4 billion, or 47.7% of the total during the January–February period.

Accommodation and food service activities followed with PHP 7.6 billion, equivalent to a 16.1% share, while real estate activities, particularly mass housing, drew PHP 6.4 billion, or 13.7%.

Manufacturing posted PHP 5.3 billion in approved investments, representing 11.4%, while transportation and storage, led by ports, accounted for PHP 3 billion, or 6.4%.

Singapore emerged as the top source of foreign investments with PHP 1.8 billion, or 55.2% of total foreign-approved investments in the period.

The BOI said the bulk of Singapore’s contribution came from Intramuros Solar Energy Corp., which is 85% Singaporean-owned and carries a foreign investment share of PHP 1.7 billion.

China ranked second with PHP 0.5 billion, or 16.8%, while Canada, Australia, and the United States each contributed PHP 0.2 billion, representing 6.5%, 6.3%, and 5%, respectively.

Region III, or Central Luzon, attracted the largest share of approved investments at PHP 21.5 billion, including a PHP 16.4 billion solar power project by Cleanenergy 2 Power Inc.

Region VII, or Central Visayas, followed with PHP 8.2 billion, while the National Capital Region received PHP 4.5 billion.

Region I, or the Ilocos Region, and Region IV-B, or MIMAROPA, secured PHP 3.7 billion and PHP 2.9 billion, respectively.

BOI Investments Promotion Services Executive Director Evariste M. Cagatan said the approvals are expected to support jobs and regional expansion.

“The increase in BOI-approved projects reflects strong investor confidence in the country’s evolving investment environment, driven by CREATE MORE and our efforts to build a greener and more competitive economy. These investments will help spur regional growth and create more jobs for Filipinos,” Executive Director Cagatan said.

For February 2026 alone, the BOI greenlighted 21 projects worth PHP 36.5 billion.

That represented a 27.2% increase from PHP 28.7 billion in approved investments in February 2025, while the number of approved projects climbed from six to 21.

Renewable energy led approvals in February 2026 with PHP 20.4 billion, accounting for 55.9% of total approved investments for the month.

Central Luzon again topped the list of regional destinations for February investments with PHP 21.5 billion, followed by the National Capital Region with PHP 4.2 billion and the Ilocos Region with PHP 3.5 billion.

The BOI said it remains committed to a whole-of-government approach to investment promotion as it works to position the Philippines as a competitive destination and generate quality jobs for Filipinos.