Total foreign direct investments (FDI)1 approved by the Board of Investments (BOI), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA) in the second quarter of 2010 declined by 31.0 percent after posting two consecutive quarters of increase. Total FDI amounted PhP 13.8 billion from PhP 19.9 billion registered in the same period last year.
The people's Republic of China (PROC) topped the list of foreign investors, pledging PhP 3.7 billion or 26.7 percent of the total approved FDI in the second quarter, followed by the United States of America (USA) and India accounting for 11.8 percent or PhP 1.6 billion, and 10.7 percent or PhP 1.5 billion worth of pledges, respectively. The bulk of investments from PROC are intended to finance projects in electricity, gas and water.
Manufacturing; private services; electricity, gas and water; and finance and real estate are the top recepients of FDI intentions in the second quarter of 2010, as these industries stand to receive 30.4 percent of PhP 4.2 bilion, 27.7 percent or PhP 3.8 billion, 26.3 percent or PHp 3.6 billion, and 13.9 percent or Php 1.9 billion respectively, of total FDI's approved during the quarter.
Total approved FDI during the quarter is expected to create 21,581 jobs, 25.6 percent lower than previous year's 29,006 jobs.
ROMULO A. VIROLA
Secretary General
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1Approved FDI represent the amount of proposed contribution or share of foreigners to various projects in the country as approved and registerd by the IPA's. This consists of equity, loans and reinvested earnings.
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 Q2 2010 Foreign Investments Summary |
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