Approved Foreign Investments Reach PhP 148.43 Billion in the First Quarter of 2024
Total foreign direct investments (FDI) approved in the second quarter of 2012 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 44.1 billion, 9.4 percent higher than the PhP 40.3 billion recorded in the same period last year. Meanwhile, total approved FDI for the first six months of 2012 reached PhP 62.6 billion, up slightly by 0.4 percent from last year’s PhP 62.3 billion.
The top three investing countries for the second quarter of 2012 were Japan, Netherlands, and the United States of America (USA). Japan bested other countries as it pledged PhP 17.4 billion or 39.6 percent share during the quarter. Following behind are Netherlands and the USA, committing PhP 9.8 billion and PhP 4.3 billion, or 22.3 percent and 9.7 percent of the total approved FDI, respectively, during the quarter.
Manufacturing remains the top industry to receive investments as its share to total foreign commitments reached 80.4 percent or PhP 35.4 billion during the quarter. Transportation and storage came in second with investment pledges valued at PhP 2.5 billion, contributing 5.8 percent, followed by real estate activities at PhP 1.9 billion or 4.4 percent share.
Meanwhile, approved investments of foreign and Filipino nationals reached PhP 202.8 billion in the second quarter of 2012, increasing by 27.2 percent from last year’s PhP 159.4 billion. Filipino nationals continued to dominate investments approved during the quarter, sharing 74.6 percent or PhP 151.2 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 95.1 billion and with a share of 46.9 percent, followed by manufacturing at PhP 38.6 billion or 19.0 percent share, and real estate activities at PhP 30.8 billion or 15.2 percent share.
Total projects of foreign and Filipino investors approved by the seven IPAs for the second quarter of 2012 are expected to create 33,381 jobs, declining by 43.2 percent from last year’s projected employment of 58,819 jobs in the same period. Out of these anticipated jobs, 66.2 percent would come from projects with foreign interest.
LINA V. CASTRO
Officer-in-Charge
Office of the Secretary General
and Assistant Secretary General
