The government has approved two new projects in September worth P6.2 billion, an official told Daily Tribune on Monday.

"These include an expansion project for a data center with an investment capital of P4.1 billion, and an expansion project for a cement manufacturer with an investment capital of P2.1 billion," said Finance Assistant Secretary Juvy Danofrata, head of the Fiscal Incentives Review Board secretariat.

In June, the FIRB approved and granted incentives to 14 big-ticket projects with a combined investment capital of P405 billion.

According to The FIRB Imprint, the quarterly newsletter of the FIRB, the secretariat received 15 tax incentives applications as of June, of which 14 were approved.

"These projects are expected to generate about 4,000 direct jobs in the cement manufacturing, construction of mass housing units, shipbuilding, rail operations, and communications infrastructures industries," the DoF said.

"With most projects located outside the National Capital Region, the projects are also seen to boost rural development in the country," the DoF added.

According to the FIRB report, P151 billion of the estimated total investment capital is accounted for by high-speed broadband services, while P78.2 billion is for the telecommunications infrastructure of three telco companies.

"The high-speed broadband project with an investment of P151 billion refers to Converge," Danofrata added.

The FIRB head also said that since the enactment of CREATE Act in March 2021, "we have 16 projects approved by the FIRB with a total investment of P411.8 billion."