-
Foreign investment pledges approved in the fourth quarter of 2022 amounted to P173.61 billion, higher by 30.1% from P133.47 billion reported in the same quarter of 2021
-
The investment commitments were reported by six government investment promotion agencies (IPA)
-
The bulk of the investment pledges came from Singapore, followed by Japan, and the United Kingdom
-
About P11.29 billion or 65.8% of foreign investment pledges tally are in the information and communication sector
-
When completed, these investments are projected to generate 23,364 employment
Foreign investment pledges approved in the fourth quarter of 2022 amounted to P173.61 billion, an increase of 30.1% from the P133.47 billion reported in the same quarter of 2021, according to the Philippine Statistics Authority.
The investment pledges came from six government investment promotion agencies (IPAs), namely, the Authority of the Freeport Area of Bataan (AFAB), Board of Investments (BOI), BOI-Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA).
Three other IPAs—Cagayan Economic Zone Authority (CEZA), Poro Point Management Corporation (PPMC), and Tourism Infrastructure and Enterprise Zone Authority (TIEZA)—reported no pledges from foreign entities during the period in review.
The bulk of the foreign investment commitments came from Singapore, with P111.47 billion or 64.2% of the total amount. This is followed by Japan (P37.41 billion or 21.5%), and United Kingdom (10.22 billion or 5.9%).
The information and communication industry stands to receive the largest amount at P114.29 billion or 65.8% of the total pledges. Real estate is second with investment commitments reaching P35.57 billion or a 20.5% share, followed by manufacturing with P19.30 billion or 11.1%.
The biggest chunk of the approved foreign investment pledges during the period, is classified as a “nationwide” project amounting to P101.36 billion or 58.4% of the total.
The Ilocos Region gets 18.8% share with P32.66 billion, followed by CALABARZON with P30.71 billion (17.7%), and Central Luzon with P5.70 billion (3.3%).
The combined approved investments of foreign and Filipino nationals, meanwhile, reached P478.16 billion in the fourth quarter of 2022, or an increase of 17% compared with P408.54 billion in the same quarter of the previous year.
The PSA projects that when completed, these investments from foreign entities in the fourth quarter of 2022 were projected to generate a total of 23,364 employment.
