Total foreign investments (FI) approved in the second quarter of 2014 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 the 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 36.0 billion, declining by 38.8 percent from the PhP 58.8 billion recorded in the same period last year. Meanwhile, total approved FI for the first six months of 2014 reached PhP 73.4 billion, down by 32.7 percent from the amount recorded last year at PhP 109.1 billion.
The top three prospective investing countries for the second quarter of 2014 include Cayman Islands, Singapore, and British Virgin Islands. The Cayman Islands topped the list, pledging PhP 10.0 billion or 27.7 percent share during the quarter. Following behind are Singapore and British Virgin Islands, committing PhP 7.8 billion and PhP 5.5 billion, or 21.6 percent and 15.2 percent of the total approved FI, respectively.
Manufacturing contributed the largest amount of committed foreign investments in the second quarter of 2014. The investment pledges for the industry was registered at PhP 18.5 billion or 51.4 percent of total FI during the quarter. Real estate activities came in second with investment pledges valued at PhP 7.2 billion, contributing 19.9 percent, followed by accommodation and food service activities, which accounted for 15.2 percent or PhP 5.5 billion.
Approved investments of foreign and Filipino nationals reached PhP 257.8 billion in the second quarter of 2014, increasing by 45.8 percent from last year’s PhP 176.8 billion. Filipino nationals continued to dominate investments approved during the quarter, sharing 86.0 percent or PhP 221.8 billion worth of pledges. Bulk of the investments committed by the foreign and Filipino nationals are intended to finance activities in electricity, gas, steam and air conditioning supply, contributing PhP 167.1 billion or 64.8 percent, followed by real estate activities at PhP 25.4 billion or 9.9 percent share, and manufacturing at PhP 24.6 billion or 9.5 percent share.
Total projects of foreign and Filipino investors approved by the seven IPAs for the second quarter of 2014 are expected to generate 118,835 jobs, an increase of 186.0 percent from last year’s projected employment of 41,552 jobs in the same period. Out of these anticipated jobs, 92.6 percent would come from projects with foreign interest.
PAULA MONINA G. COLLADO
Interim Deputy National Statistician
Officer-in-Charge
Focal Persons
Ms. Cynthia S. Regalado, Mr. John Lourenze S. Poquiz
and Ms. Stephanie Rose R. Moscoso
Q2 2014 Foreign Investments Summary