Approved Foreign Investments Reached PhP 13.05 Billion in Third Quarter 2022

Reference No.: 2022-462
Release Date: 15 November 2022

Total foreign investments (FI) approved in the third quarter of 2022 amounting to PhP 13.05 billion is lower by -22.4 percent compared with PhP 16.82 billion reported in the same quarter of 2021. These investments were pledges from four Investment Promotion Agencies (IPAs), namely: Board of Investments (BOI), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA). No foreign investment approvals were reported from Authority of the Freeport Area of Bataan (AFAB), BOI-Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM), Cagayan Economic Zone Authority (CEZA), Poro Point Management Corporation (PPMC), and Tourism Infrastructure Economic Zone Authority (TIEZA) for the third quarter of years 2021 and 2022. (Figure 1 and Table 2)

The FI commitments for the third quarter of 2022 were mainly driven by investments from Japan, which accounted for 34.5 percent of the total approved FI, followed by South Korea (15.5%) and Singapore (12.6%). Japan committed PhP 4.50 billion while South Korea and Singapore pledged PhP 2.02 billion and PhP 1.64 billion, respectively.  (Table 3)

Manufacturing bested all other industries as it stands to receive PhP 7.20 billion or 55.2 percent of the total FI pledges. Administrative and Support Service Activities came in second with investment commitments valued at PhP 3.38 billion or 25.9 percent share, followed by Real Estate Activities with PhP 1.35 billion or 10.3 percent FI contribution.  (Table 4)

The biggest chunk of the approved foreign investment in the third quarter of 2022 was intended to finance projects in CALABARZON amounting to PhP 6.60 billion or 50.6 percent of the total FI. This was followed by Central Luzon with PhP 3.02 billion (23.1%) and National Capital Region with PhP 2.24 billion (17.1%).  (Table 5)

Approved investment of foreign and Filipino nationals reached PhP 159.18 billion in the third quarter of 2022 or an increase of 58.4 percent compared with PhP 100.48 billion in the same quarter of the previous year. Filipino nationals contributed PhP 146.13 billion or 91.8 percent investments. (Tables 7 and 8)

Total approved projects of foreign and Filipino investors in the third quarter of 2022 were projected to generate 28,139 employment. Out of the total anticipated employment for the period, approved projects with foreign interest were projected to generate 17,994 employment based on the reports of IPAs. (Tables 6 and 11)

 

DENNIS S. MAPA, Ph.D.
Undersecretary
National Statistician and Civil Registrar General

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