The Netherlands was the top foreign investor in the second quarter of 2015 with a pledge P17 billion in investments followed by Singapore which committed P8.4 billion and Japan with P4 billion.
The Philippine Statistics Authority (PSA) reported that total foreign investments approved in the second quarter of 2015 by the seven investment promotion agencies inched up by 0.5 percent to P36.2 billion from P36 billion recorded in the same period last year.
Total approved foreign investments for the first half of the year declined by 21 percent to P58 billion from P73.4 billion in the previous year.
The manufacturing industry had the largest share of 60.2 percent of the total amount of committed foreign investments in the second quarter of 2015 at P21.8 billion. Agriculture, forestry and fishing came in second with investment pledges valued at P5.1 billion (14.2 percent), followed by construction at P2.6 billion (7.2 percent).
In terms of location, bulk of the approved foreign investments would be used to finance projects in Region IVA – CALABARZON, amounting to P22.3 billion (61.5 percent) followed by Region VII – Central Visayas at P3.9 billion (10.8 percent) and the National Capital Region at P2.4 billion (6.6 percent).
The total approved investments of both foreign and Filipino nationals dropped by 65.1 percent to P90 billion in the second quarter of 2015 from last year’s P257.8 billion. Filipino nationals continued to dominate investments approved during the quarter, sharing 59.8 percent or P53.8 billion worth of pledges.
The PSA expects 36,196 jobs to the generated from the foreign and local investments approved by the seven investment promotion agencies in the second quarter, lower by 69.5 percent from last year’s projected employment of 118,835 in the same period. Out of the anticipated jobs, 71.5 percent would come from projects with foreign interest.
The investment promotion agencies include the 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).