NSCB Resolution No. 1
Series of 1989
DESIGNATING FOREIGN INVESTMENT STATISTICS PRODUCED BY THE CENTRAL BANK AS OFFICIAL STATISTICS
WHEREAS, statistics on foreign investments are currently being generated by three (3) agencies, namely: Central Bank of the Philippines (CBP); Securities and Exchange Commission (SEC); and the Board of Investments (BOI);
WHEREAS, the data released by these three agencies differ due to the varying nature and composition of foreign investments being covered by them and the absence of a common definition resulting to conflicting statistics;
WHEREAS, a study was conducted by the NSCB Technical Staff to identify the differences in coverage;
WHEREAS, the result of the study was submitted to the Board for its consideration;
NOW THEREFORE, BE IT RESOLVED AS IT IS HEREBY RESOLVED, that:
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the statistical series on foreign investments produced by the Central Bank’s Department of Economic Research, International (DER-I) be designated as the official series on foreign investments;
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said series be further developed to provide foreign investment data by industry, by region and by nationality of foreign investor; and
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the BOI and SEC be allowed to continue with the compilation of similar statistics for their requirements/needs provided however that the definitions, limitations, coverage and other qualifications of such statistics shall be indicated whenever such are released to the public.
Approved this 23rd day of February 1989.