The Board of Investments (BOI) retained its position as the country’s top investment promotion agency in the first quarter of 2026, accounting for nearly half of all approved investments despite a sharp decline from the record levels posted a year earlier.
BOI Managing Head Ceferino Rodolfo said the agency registered P58.2 billion in approved investments from January to March, representing 46 percent of the P125.95 billion total approvals recorded by all investment promotion agencies (IPAs), based on Philippine Statistics Authority data.
While maintaining its lead among IPAs, the BOI’s approved investments fell 48 percent from P112.52 billion in the same period last year.
Foreign investment approvals reached P5.24 billion, down 28 percent from P7.28 billion a year ago, while local investments dropped 50 percent to P52.96 billion.
The approved projects are expected to generate 6,226 jobs.
Despite the year-on-year decline, Rodolfo said the agency remains optimistic about the investment outlook, citing ongoing reforms and efforts to improve the country’s business environment.
“BOI remains the largest contributor among investment promotion agencies in terms of approved investments, reflecting continued investor confidence in the Philippine economy,” Rodolfo said.
“This strong first-quarter performance sets the tone for sustained foreign investment inflows in the months ahead, driven by ongoing reforms, improved ease of doing business, and proactive investment promotion,” he added.
Singapore emerged as the largest source of BOI-approved foreign investments during the quarter, contributing P2.97 billion. China followed with P762.8 million, while the US accounted for P489.35 million. Other major sources included the Netherlands, Canada, and South Korea, which backed projects such as a solar power development in Camotes Island, Cebu.
The energy sector, particularly renewable energy projects, attracted the biggest share of approved investments at P29.58 billion, accounting for nearly a quarter of the total.
Accommodation and food service activities came next with P24.03 billion, followed by manufacturing and real estate.
The BOI said the investment figures underscore the impact of government reforms and targeted promotion efforts, with renewable energy and tourism-related projects continuing to drive investor interest as the Philippines positions itself as a competitive destination for long-term business expansion.
