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P73.1B worth of investments lost; BoI blames poor incentive package.
Blaming a not-so-attractive fiscal perks package, the Board of Investments (BoI) said foreign investments worth P73.1 billion failed to see the light of day, said agency sources.
Partly as a result of this, fresh investments for the January-to-November period reached only P110.3 billion, representing a 35% decline from the year-ago P169.46 billion, sources said.
BoI managing head Dakila B. Fonacier has yet to officially release the latest data on investments. Well-placed sources, however, said BoI and the Department of Trade and Industry (DTI) are set to cite these missed opportunities to emphasize the need for the Philippines to offer more incentives for …
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