Central Luzon tops 2020 investments thanks to Bulacan airport project
Central Luzon emerged as the No. 1 investment hub among all regions in the Philippines in 2020 with P576.1 billion on the strength of the mammoth Bulacan airport project, according to the Board of Investments.
Calabarzon or Region IV-A placed second with P184.1 billion, followed by the National Capital Region with P151.3 billion, the BOI said in a press release.
Northern Mindanao was in the fourth spot with P31.7 billion followed by Ilocos Region with P13.8 billion, according to the BOI.
Department of Trade and Industry (DTI) Secretary and Board of Investments (BOI) chairperson Ramon Lopez said total approved investments last year reached P1.02 trillion despite the Covid-19 pandemic.
“We are working hard for a V-shaped Philippine economic recovery in 2021 and are hence targeting the original 2020 pre-pandemic goal for investments,” he said.
Following 2019’s record approval of P1.14 trillion, BOI originally set a P1.25 trillion for 2020 but re-calibrated it to P1 trillion due to the pandemic.
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