PHL investments hit high in 2010
Executive Director Efren Leano of the Department of Trade and Industry (DTI) said that investments in the country for the first 10 months of 2010 hit the P330.6-billion mark, or 46 percent higher than the P226.8-billion netted in the same period in 2009.
Leano, who guested at the weekly Communication and News Exchange Forum hosted by the Philippine Information Agency in Quezon City in cooperation with the Presidential Communications Operations Office (PCOO), said that in dollar term, the P330.6-billion figure attained in the 10-month period is equivalent to US$ 7.6 billion.
This is US$ 1.3 billion higher than the US$ 5.2 billion (equivalent to P226.8 billion) posted in the same period of last year.
Leano attributed the significant increase to the strong investor confidence businessmen have on President Benigno S. Aquino III’s administration.
In the same vein, exports also reached a new high, indicating that the country is very much capable of hitting its US$ 47.4-billion export target for this year.
“Our exports have already hit the US$ 43 billion mark for the first nine months of the year. We are more confident of hitting the US$ 47.4 billion we have set for exports before the year ends,” Leano said.
He added that should the country attained its export target, it will be 24 percent higher than the US$ 38.3 billion reached in 2009.*PNA
