BITC restrains targets amidst COVID-19 crunch

Annually, the BITC, which is the country’s lead agency for attracting investment and promoting exports, increases its targets by a minimum of 10%. For the current financial year, which began in April, the BITC will keep to the same targets it had last year, executives said on Tuesday. In the year ended March 2020, the BITC attracted foreign direct investment worth P1.4 billion against a target of P2 billion. Further, the centre registered P1.6 billion in domestic investments against a target of P1.9 billion.

At least 4,288 jobs were created in the year to March 2020, against a target of 3,380.