Total foreign investments (FI) approved in the fourth quarter of 2020 amounted to PhP 36.49 billion, -67.5 percent lower compared with PhP 112.11 billion in the same period in 2019. These investment pledges came from the investment promotion agencies (IPAs), namely: Board of Investments (BOI), BOI-Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA), Subic Bay Metropolitan Authority (SBMA), Authority of the Freeport Area of Bataan (AFAB), and Cagayan Economic Zone Authority (CEZA).
The FI commitments for the fourth quarter of 2020 were mainly driven by investments from the United States of America (USA) which accounted for 36.7 percent of the total FI for the period, followed by Taiwan (12.1%) and Japan (11.7%). The USA committed PhP 13.4 billion, while Taiwan and Japan pledged PhP 4.4 billion and PhP 4.3 billion, respectively.
Approved projects with foreign interests in the fourth quarter of 2020 were projected to generate 24,239 jobs1.
DENNIS S. MAPA, Ph.D.
Undersecretary
National Statistician and Civil Registrar General
1 The expected number of jobs is part of the submission of IPAs.
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