BOI sticking to investment approvals target of ₧1.5-T

By Andrea E. San Juan

THE Board of Investments (BOI) said it is confident of hitting its P1.5-trillion investment approvals target for 2023 amid the establishment of green lanes— a move seen to address the barriers that hamper the entry of foreign direct investments.

Trade and Industry Secretary Alfredo E. Pascual, who also chairs the BOI since it is an attached agency to the Department of Trade and Industry (DTI), said at the launch of Executive Order (EO) No. 18 Constituting Green Lanes for Strategic Investments, that the investment promotion agency will stick to its P1.5-tril - lion investment approvals target for 2023. It is difficult to keep adjusting targets, he explained.

T his, he said, despite the establishment of green lanes being “meant to support the investment leads that we have been accumulating from our investment missions.”

We’ll stick... Mahirap ’yung moving target. We revise it once upward. Let it be. If we exceed it, fine. If we fall behind, we’ll work harder,” Pascual told reporters on the sidelines of the launching of EO 18 in Pasay City. Related story on green lanes in Economy, page A4.

I n February 2023, the BOI decided to revise its 2023 Investment approvals target from P1 trillion to