Foreign investments up 159%

Foreign investments approved in the second quarter of 2013 amounted to P58.8 billion, 159.6 percent higher than the P22.7 billion recorded in the same period last year. 
The National Statistical Coordination Board (NSCB) reported that the total approved foreign investments in first half of 2013 reached P93.4 billion, up by 126.9 percent from P41.2 billion recorded in the same period last year.
The top three prospective investing countries include the USA, Japan and the Netherlands. The USA topped the list, pledging P43.2 billion or 73.4 percent share during the quarter.
Following behind are Japan and the Netherlands, committing P4.2 billion and P3.8 billion, or  7.2 percent and 6.5 percent of the total approved foreign investments, respectively, during the quarter.
Electricity, gas, steam, and air conditioning supply industry contributed the largest amount of committed foreign investments in the second quarter of 2013.
The investment pledges for the industry was registered at P43.3 billion or 73.7 percent of the total foreign investments during the quarter.
Manufacturing came in second with investment pledges valued at P7 billion, contributing 11.8 percent, followed by administrative and support service activities, which accounted for 5.2 percent  or P3.1 billion.
Approved investments of foreign and Filipino nationals reached P176.8 billion in the second quarter of 2013, increasing by 2.1 percent from last year’s P173.2 billion.
Filipino nationals continued to dominate investments approved during the quarter, sharing 66.7 percent or P118 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 P118.9 billion and with a share of 67.2 percent, followed by real estate activities at P33.5 billion or 19.0 percent share, and manufacturing at P12.1 billion or 6.8 percent share.
Total projects of foreign and Filipino investors approved by the seven investment promotion agencies for the second quarter of 2013 are expected to generate 41,845 jobs, an increase of 25.4 percent from last year’s projected employment of 33,381 jobs in the same period.  Out of these anticipated jobs, 79.1 percent would come from projects with foreign interest.