Approved Foreign Investments Reach PhP 148.43 Billion in the First Quarter of 2024
Total approved foreign investments (FI) for 2012 surpassed the previous year’s record level of PhP 258.2 billion, up by 12.0 percent reaching PhP 289.1 billion worth of investment pledges. Likewise, the approved FI for Q4 2012 was the highest since 1996.
In the fourth quarter of 2012, total FI approved by 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 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 230.2 billion, 37.1 percent higher than PhP 167.9 billion approved in the same period of the previous year.
The top three investing countries for the fourth quarter of 2012 were Netherlands, Japan and the United States of America (USA). Netherlands pledged PhP 100.9 billion or 43.8 percent share during the quarter while Japan and USA committed PhP 50.9 billion or 22.1 percent and PhP 32.8 billion or 14.3 percent, respectively, of the total approved FI.
Manufacturing remained the top industry to receive PhP 136.8 billion worth of investment pledges or 59.4 percent. Transportation and storage came in second with investment pledges valued at PhP 50.0 billion, contributing 21.7 percent, followed by information and communication at PhP 14.5 billion or 6.3 percent.
Approved investments of foreign and Filipino nationals in the fourth quarter of 2012 totaled PhP 330.1 billion, 44.9 percent higher than PhP 227.8 billion registered in the same period of the previous year. Pledges from Filipino nationals stood at PhP 99.9 billion which accounted for 30.3 percent of the total approved investments during the quarter.
Foreign and Filipino ventures approved by the IPAs for the fourth quarter of 2012 are expected to create 45,198 jobs, declining by 15.8 percent from previous year’s projected employment of 53,695 jobs. Out of these anticipated jobs, 69.3 percent or 31,342 jobs would come from projects with foreign interest.
JOSE RAMON G. ALBERT
Secretary General
