News Release

BoI on track to reach P500 billion investment projects in 2017

The Board of Investments (BoI) is on track in attaining its goal to reach P500 billion investment projects this year, the Palace announced on Wednesday, July 26.
In a press briefing in Malacañan, Presidential Spokesperson Ernesto Abella said the Board of Investments registered its investment projects to P272.7 billion as of mid-July this year, a 30-percent increase from 2016’s P210.4 billion.

“This means that the agency’s target to reach P500 billion investment projects is on track,” Abella said.

The Palace official also noted that the full operation of these projects would create 56,056 jobs, 50 percent higher than the 37,487 of the same period in 2016.

“Indeed, the Duterte administration will continue its efforts in attracting more investments to generate more jobs, hence, providing secure and a comfortable life for all Filipinos,” Abella said.

During the same briefing, Malacañan welcomed the Senate’s green light of a measure exempting small farmers from irrigation fees.

The senators approved on third and final reading Senate Bill No. 1465 or the Free Irrigation Service to Small Farmers Act of 2017.

Abella said the proposed measure will increase efficiency and decrease farm production costs, thus allowing for a higher income for small farmers.

The House of Representatives has approved on final reading a counterpart version on May 29.

“We are hopeful that the passage of the law would be smooth sailing, which is PRRD’s campaign promise to help our small farmers,” Abella said.

Joining Wednesday’s press briefing was Film Development Council of the Philippines (FDCP) Chairperson Liza Diño, who sought Filipinos’ support for the Pista ng Pelikulang Pilipino that will feature a week-long screening of all Filipino films in theaters nationwide.

Diño said this will serve as a platform, an opportunity, a chance for Philippine cinema “to thrive and reach the wider audience that it deserves for an exclusive time,” noting that no Hollywood films will be shown from August 16 to 22. PND