Total Approved Foreign Investments down by 12.8 percent in Q1 2017

Reference No.:
2017-067
Released Date:
Thursday, June 15, 2017

Total foreign investments (FI) approved in the first quarter of 2017 by the seven investment promotion agencies (IPAs), namely: Board of Investments (BOI), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA) as well as Authority of the Freeport Area of Bataan (AFAB), BOI-Autonomous Region of Muslim Mindanao (BOI-ARMM), and Cagayan Economic Zone Authority (CEZA), amounted to PhP 22.9 billion. This is lower by 12.8 percent compared with PhP 26.2 billion approved in the same period last year.

The Netherlands was the top investing country during the quarter with PhP 6.2 billion accounting for 27.2 percent of the total FI commitments. Singapore and the United Kingdom (UK) occupied the second and third posts, pledging PhP 4.3 billion or 18.8 percent and PhP 3.6 billion or 15.9 percent, respectively.

Manufacturing bested all other industries as it stands to receive 65.6 percent of total FI pledges or PhP 15.0 billion. Administrative and Support Service Activities came in second, with investment commitments valued at PhP 3.5 billion, or 15.4 percent of the total FI. Real Estate Activities followed with PhP 3.4 billion, or 15.0 percent of the total FI. 

In terms of location, bulk of the approved foreign investments would be intended to finance projects in Region IVA – CALABARZON, amounting to PhP 15.3 billion or 67.0 percent. This is followed by the National Capital Region with PhP 2.7 billion or 11.7 percent and Central Visayas with PhP 2.5 billion or 10.9 percent.            

Approved investments of foreign and Filipino nationals in the first quarter of 2017 grew by 21.8 percent, amounting to PhP 121.5 billion from PhP 99.7 billion registered in Q1 2016. Pledges from Filipino nationals stood at PhP 98.6 billion accounting for 81.2 percent of the total approved investments during the quarter.

Foreign and Filipino ventures approved by the seven IPAs in the first quarter of 2017 are expected to generate 54,726 jobs. This is 7.8 percent lower compared with previous year’s projected employment. Out of these anticipated jobs, 59.1 percent or 32,361 jobs would come from projects with foreign interest.

 

FOR THE NATIONAL STATISTICIAN

 

ROMEO S. RECIDE

Assistant National Statistician
Sectoral Statistics Office
Officer-in-Charge