Total foreign investments (FI)  approved in the second quarter of 2013 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 58.8 billion, 159.6 percent higher than the PhP 22.7 billion recorded in the same period last year.  Meanwhile, total approved FI for the first six months of 2013 reached PhP 93.4 billion, increasing by 126.9 percent from the amount recorded last year at PhP 41.2 billion.

 

 

The top three prospective investing countries for the second quarter of 2013 include the United States of America, Japan, and the Netherlands. The USA topped the list, pledging PhP 43.2 billion or 73.4 percent share during the quarter.  Following behind are Japan and the Netherlands, committing PhP 4.2 billion and PhP 3.8 billion, 7.2 percent and 6.5 percent of the total approved FI, respectively, during the quarter.

 

The electricity, gas, steam, and air conditioning supply industry contributed the largest amount of committed foreign investments in the second quarter of 2013. The investment pledges for the industry was registered at PhP 43.3 billion or 73.7 percent of the total FI during the quarter. Manufacturing came in second with investment pledges valued at PhP 7.0 billion, contributing 11.8 percent, followed by administrative and support service activities, which accounted for 5.2 percent or PhP 3.1 billion.

 

Approved investments of foreign and Filipino nationals reached PhP 176.8 billion in the second quarter of 2013, increasing by 2.1 percent from last year’s PhP 173.2 billion. Filipino nationals continued to dominate investments approved during the quarter, sharing 66.7 percent or PhP 118.0 billion worth of pledges. Bulk of the investments committed by Filipinos are intended to finance activities in electricity, gas, steam and air conditioning supply, contributing PhP 118.9 billion and with a share of 67.2 percent, followed by real estate activities at PhP 33.5 billion or 19.0 percent share, and manufacturing at PhP 12.1 billion or 6.8 percent share.

 

Total projects of foreign and Filipino investors approved by the seven IPAs for the second quarter of 2013 are expected to generate 41,845 jobs, an increase of 25.4 percent from last year’s projected employment of 33,381 jobs in the same period.  Out of these anticipated jobs, 79.1 percent would come from projects with foreign interest. 

 

 

 

 

Secretary General