The Philippines' BOI approved over P13.38 billion in investments for projects after IPAs' investment capital threshold increase from P1B to P15B.
The Philippines' Board of Investments (BOI) approved over P13.38 billion in investments for projects meeting the increased investment capital threshold for approval by investment promotion agencies (IPAs). This move follows the Fiscal Incentives Review Board's (FIRB) resolution to increase the investment capital threshold for projects handled by IPAs to P15 billion from P1 billion. The BOI has approved six projects since the change, with agriculture attracting P6.05 billion. The new threshold aims to speed up project registration for investors and addresses lengthy application evaluation processes.
June 23, 2024
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