Philippine Investment Agency: President Marcos' visit has led to a large number of European investme
According to Philippine media reports on the 18th, the Philippine Investment Agency (BOI) reported that from January to September this year, the total amount of BOI approved investment reached 740.1 billion pesos, of which 313 billion pesos were invested in the Philippines, accounting for only 40% of the total approved investment, far lower than 80% in previous years; Foreign investment of 427 billion pesos, accounting for 60%, the proportion increased significantly from the previous, mostly from Europe, to the renewable energy industry.
Deputy Minister of Trade and Industry of the Philippines and head of BOI Rodolfo said that Philippine President Marcos' visit to Brussels in December last year to attend the 2022 ASEAN-EU Commemorative Summit was the biggest driving force for the Philippines to attract foreign investment this year. Marcos brought back a total of 393.28 billion pesos in agreed foreign investment during his previous visits, of which about 92% came from Germany. According to BOI's tracking over the past 10 years, 80% of the agreed investment amount can be landed.