NEARLY P2.8 trillion in investment pledges have been approved since President Ferdinand Marcos Jr. took office, the Trade Department said ahead of today's State of the Nation Address.

The Board of Investments (BoI) and the Philippine Economic Zone Authority (PEZA), in particular, were said to have approved a total of 1,090 projects worth P2.73 trillion from July 2022 to May 2024.

Trade Secretary Alfredo Pascual told reporters on Friday that the projects were expected to generate around 182,000 jobs: 102,000 from those approved by the BoI and 80,000 from the PEZA.

Trade Undersecretary and BoI managing head Ceferino Rodolfo said that "in the case of BoI most of [the projects] or 80 to 90 percent are renewable energy, then at PEZA almost all of those are export manufacturing,"

"When we implemented the regulatory change allowing 100 percent foreign ownership, there was a significant influx of RE projects registering with the BoI," he added.

As for projects realized from Marcos' foreign trips, Pascual said that 20 projects worth $1.26 billion were now classified as category six or those that are fully operational.

Another 23 projects valued at $1.6 billion are in category five, or those that are already registered with investment promotion agencies. Category four, which covers projects undergoing the registration process, comprised 30 projects worth $16 billion.

Pascual, who did not say how many investment pledges had materialized, noted that "not all businesses that expressed interest result in actual investments."

He said that in-depth studies could have led to substantial changes in project costs and scope.

As for green lane initiatives, the Trade department said that 102 projects worth P3 trillion had been certified since Executive Order 18 setting up the system to facilitate strategic investments was issued in February 2023.

Investment leads, the department also said, "represent just a part of actual investments that are being considered and actually made in the Philippines."

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