MANILA, Philippines — Investments registered with the Board of Investments in the first half of the year grew 20.27 to P204.175 billion over the same period last year which the agency attributed to the bullish sentiments pervading in the country that draw businessmen to pour money where their mouths are.

“Because everything is bullish,” BoI managing head Cristino L. Panlilio told reporters even as he said that the government was undertaking a ‘double checking analysis’ on the FDI (foreign direct investments), which he said would prove the bullish atmosphere going on in the country.

“Ninety percent of business people are investing and putting their money where their mouths are and if you are part of the 10 percent who are doing analysis paralysis you will be left behind,” Panlilio said.

Panlilio cited the booming construction sector, the ongoing expansions of multinational corporations such as Coca Cola, Nestle, the robust business process outsourcing sector and the growth of the microfinance firms.

“The commercial banks have grown, the past dues of banks have gone down to a historical low of 3 percent while the stock market is on an all-time high,” he pointed out.

“My advice to all serious investors is don’t get left behind by pondering too much on the negative but look at the Philippines as half full, not half empty,” he added. “Believe me I am a businessman and I’m putting my money where my mouth is,” he said.

BoI executive director Lucita P. Reyes reported that despite the delisting of the huge projects of Independent Power Producers Administrators (IPPAs), the agency managed to make up for the loss.

Committed investments in the January-June period reached P204.175 billion or 20.27 percent higher than the P169.757 billion registered in the same period of 2010.

The IPPAs, however, made a dent in the month of June as the BoI managed to register only P12.991 billion, which is just one tenth of the P126.144 billion worth of investments approved in the same month last year.

Reyes explained that three IPPAs (the 345 megawatt power plant of San Miguel Corporation’s Strategic Power Development Corp., the 1,200 MW Ilijan natural gas-fired power and the 1,000 Sual Power plant) contributed P116.858 billion to the P126.144 billion June 2010 investments haul.

original source: Manila Bulletin