Total foreign investments (FI) approved in the second quarter of 2017 amounted to PhP 18.2 billion from PhP 40.4 billion recorded in the same period last year. The total FI represents the seven  investment promotion agencies (IPAs), namely the 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),. Meanwhile, total approved FI for the first six months of the year reached PhP 41.0 billion, lower by 38.4 percent from PhP 66.6 billion in the previous year. 

The top three prospective investing countries for the second quarter of 2017 include Japan, Singapore, and the United States of America (USA).  Pledges from Japan amounted to PhP 4.8 billion or 26.4 percent of the total FI during the quarter while Singapore and USA committed PhP 2.4 billion and PhP 2.0 billion, or 13.0 percent and 11.0 percent of the total approved FI, respectively.

Manufacturing continued to be the industry that would receive the largest amount of committed foreign investments in the second quarter of 2017. Investments for Manufacturing stood at PhP 6.7 billion or 36.7 percent share. Administrative and Support Service Activities came in second with investment pledges valued at PhP 4.1 billion or 22.6 percent, followed by Real Estate Activities at PhP 3.8 billion or 21.1 percent share.

The region with the highest amount of approved foreign investments in the second quarter of 2017 would be intended to finance projects in the National Capital Region (NCR), amounting to PhP 5.1 billion or 28.2 percent. The second highest region would be Region IVA – CALABARZON at PhP 5.0 billion or 27.3 percent, followed by the Region VII - Central Visayas at PhP 2.3 billion or 12.7 percent.

Approved investments of foreign and Filipino nationals reached PhP 230.5 billion in the second quarter of 2017, an increase of 29.7 percent from previous year’s PhP 177.7 billion. Filipino nationals continued to dominate investments approved during the quarter, accounting for 92.1 percent or PhP 212.3 billion worth of pledges.

Total projects of foreign and Filipino investors approved by the seven IPAs for the second quarter of 2017 are expected to generate 95,131 jobs. This is higher by 76.2 percent from the projected employment of 53,998 in the same quarter in 2016. 

LISA GRACE S. BERSALES, Ph. D

Undersecretary

National Statistician and Civil Registrar General