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Approved total foreign investments doubled in the second quarter to P46.23 billion from P22.50 billion in the same quarter last year.
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Investments were pledges from five Investment Promotion Agencies
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The Netherlands accounted for 41.2% of the total foreign investment pledge
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Real Estate Activities stands to receive P19.30 billion or 41.7% of the total foreign investment pledges
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The biggest chunk of approved foreign investment was intended to finance projects in Central Luzon amounting to P33.94 billion or 73.4% of the total
Approved total foreign investments doubled in the second quarter to P46.23 billion from P22.50 billion year-on-year, according to the Philippine Statistics Authority.
These investments were pledges from five Investment Promotion Agencies (IPAs): Board of Investments (BOI), BOI-Bangsamoro Autonomous Region in Muslim Mindanao, Clark Development Corporation, Philippine Economic Zone Authority, and Subic Bay Metropolitan Authority, PSA said in a statement.
No foreign investment approvals were reported from Poro Point Management Corporation (PPMC) and Tourism Infrastructure Economic Zone Authority (TIEZA) for the second quarter of years 2021 and 2022.
In response to efforts to expand the coverage of the quarterly compilation of approved investment, PPMC and TIEZA submitted their quarterly report to PSA for the first time. TIEZA reported approved foreign investment for the first quarter and fourth quarter of 2021 amounting to P206.29 million, while PPMC had a total of P5 million approved investment by Filipino nationals in the first quarter of 2022.
The foreign investment commitments for the second quarter were mainly driven by investments from the Netherlands, which accounted for 41.2% of the total, followed by Singapore (34.4%) and Japan (14.1%). Netherlands committed P19.04 billion while Singapore and Japan pledged P15.89 billion and P6.51 billion, respectively.
Real Estate Activities bested all other industries as it stands to receive P19.30 billion or 41.7% of the total foreign investment pledges. Transportation and Storage came in second with investment commitments valued at P14.52 billion or 31.4% share, followed by Manufacturing with P6.15 billion or 13.3% contribution.
The biggest chunk of the approved foreign investment in the second quarter was intended to finance projects in Central Luzon amounting to P33.94 billion or 73.4% of the total. This was followed by Central Visayas with P3.94 billion (8.5%) and CALABARZON with P3.70 billion (8.0%).
Approved investment of foreign and Filipino nationals reached P99.61 billion in the second quarter or an increase of 17.4% compared with P84.85 billion in the same quarter of the previous year. Filipino nationals continued to dominate the approved investments during the quarter, with P53.38 billion worth of investment pledges or 53.6% share.
Total approved projects of foreign and Filipino investors in the second quarter were projected to generate 19,094 employment. Out of the total anticipated employment for the period, approved projects with foreign interest were projected to generate 12,626 employment based on the reports of IPAs.
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