MANILA, Philippines — The Board of Investments (BOI) on Friday said they expect the value of approved investments in 2025 to grow by nearly a tenth, banking on another year of strong uptake of renewable energy projects.

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“Initially, we are projecting, targeting P1.75 trillion. So, that’s about 8 percent higher than the current approvals,” Lanie Dormiendo, the head of the BOI’s International Investments Promotion Service, said in a press briefing at the Department of Trade and Industry’s main office in Makati.

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The BOI approved P1.62 trillion worth of projects this year, a record high as approvals soared 28.6 percent from a year ago.

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Investments registered with the BOI are given incentives such as income tax holidays, a preferential tax rate on gross income, a zero value-added taxes rating, as well as tax and duty-free importation of capital equipment, raw materials, and supplies.

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BOI approvals have fluctuated over the last several years, registering P1.26 trillion in 2023, P729 billion in 2022, P655 billion in 2021, P1.02 trillion in 2020, and P1.14 trillion in 2019.

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Most of the investments this year are in the energy sector, with the amount reaching P1.38 trillion or 83.64 percent of the total.

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Other sectors with sizeable investments are the air and water transport sector with P121.20 billion, real estate with P37.26 billion, manufacturing with P31.67 billion, and water supply, sewerage, waste management and remediation with P16.28 billion.

Asked if they expect renewable energy projects to still make up most of the investments in 2025, Dormiendo said yes but also mentioned that they are beefing up their initiatives to attract investments in manufacturing and semiconductors.

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“Hopefully, we will be able to bring in companies that are into mineral processing, those high-value manufacturing activities,” she said.

Meanwhile, Trade Secretary Cristina Roque—who also sits as BOI chair—said they would continue to hold investments and trade missions in other countries in 2025 to continue attracting them to invest in the Philippines.

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MANILA  – The local stock market shed on profit-taking, while the peso ended weak on Thursday.

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The trade secretary hinted that investment missions in Japan and Israel could be slated for next year.

“As of yesterdaybetlead, we’re still talking to the Japanese minister. And the other day, was with the Israeli ambassador,” she said, adding that they have also been talking with firms from India.

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