BUSINESS
Advocates Philippines
DTI Smashes 2024 Investment Targets, Paving The Way For More Jobs And Economic Growth
FILE
The Department of Trade and Industry (DTI) has some big news to share — they’ve exceeded their 2024 investment goals, and this is a huge win for the Philippine economy. Thanks to the strong showing from the Philippine Economic Zone Authority (PEZA) and the Board of Investments (BOI), the country is on a solid path to more jobs, innovation, and sustainable growth.

In a recent announcement, Trade Secretary Roque shared the exciting update: “We are pleased to report significant progress in attracting investments this year. These investments will fuel job creation, drive innovation, and foster dynamic economic progress. By focusing on international trade, we are laying the foundation for sustainable and inclusive economic growth.”

Here’s the breakdown of the big numbers:

BOI’s Record-High Investments
The BOI really delivered, reporting PHP 1.62 trillion in approved investments — way above its PHP 1.5 trillion target. That’s also a big jump from PHP 1.26 trillion in 2023, showing growing trust and confidence from both local and foreign investors.

PEZA Exceeds Ecozone Goals
PEZA, meanwhile, hit PHP 214.17 billion in investments, surpassing its PHP 200 billion target. By focusing on developing ecozones and supporting high-growth industries, PEZA helped solidify the Philippines as a top-tier destination for foreign direct investments.

What’s Next? More Momentum for 2025

The DTI isn’t slowing down anytime soon. Secretary Roque emphasized their commitment to keeping this positive trend going. “As we approach 2025, we will continue to refine and implement forward-looking policies that attract investments in key industries. Our commitment is to create an environment where businesses thrive, sustainability is prioritized, and economic opportunities benefit all Filipinos.”

The bottom line? This milestone isn’t just about hitting targets — it’s about creating opportunities. With more investments coming in, Filipinos can look forward to more jobs, better technology, and stronger economic growth. The future looks bright for the Philippines!
Dec 20, 2024
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