Total foreign investments (FI) approved in the third 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 33.1 billion, 86.6 percent higher than the PhP 17.7 billion recorded in the same period last year. Meanwhile, total approved FI for the first nine months of 2013 reached PhP 126.5 billion, increasing by 114.8 percent from the amount recorded last year at PhP 58.9 billion.

 

 

The top three prospective investing countries for the third quarter of 2013 include the British Virgin Islands, Japan, and the Netherlands.  British Virgin Islands topped the list, pledging PhP 10.3 billion or 31.1 percent share during the quarter.  This was followed by Japan and the Netherlands, committing PhP 5.9 billion and PhP 4.4 billion, or 18.0 percent and 13.2 percent of the total approved FI, respectively, during the quarter.

 

Manufacturing industry contributed the largest amount of committed foreign investments in the third quarter of 2013. The investment pledges for the industry was registered at PhP 11.2 billion or 33.9 percent of total FI during the quarter. Electricity, gas, steam, and air conditioning supply came in second with investment pledges valued at PhP 9.5 billion, contributing 28.8 percent, followed by accommodation and food service activities, which accounted for 13.7 percent or PhP 4.5 billion.

 

Approved investments of foreign and Filipino nationals reached PhP 189.4 billion in the third quarter of 2013, increasing by 26.0 percent from last year’s PhP 150.3 billion. Filipino nationals continued to dominate investments approved during the quarter, sharing 82.5 percent or PhP 156.3 billion worth of pledges.  Bulk of the investments are intended to finance activities in electricity, gas, steam and air conditioning supply, contributing PhP 123.2 billion and with a share of 65.1 percent, followed by real estate activities at PhP 25.7 billion or 13.6 percent share, and accommodation and food service activities at PhP 13.6 billion or 7.2 percent share.

 

Total projects of foreign and Filipino investors approved by the seven IPAs for the third quarter of 2013 are expected to generate 39,314 jobs, an increase of 18.1 percent from last year’s projected employment of 33,295 jobs in the same period.  Out of these anticipated jobs, 84.8 percent would come from projects with foreign interest.

 

 

 

 

Secretary General