Australia is top foreign investor in the Philippines in 2016

Australia emerged as the top foreign country investor in the Philippines in 2016, with investments worth P30.5bn, according to government data. Australia was followed by Singapore with P13.6bn worth of investments, The Netherlands (P13.1bn), Japan (P6.8bn), and South Korea (P6.4bn). For the entire 2016, approved investment projects in the Philippines grew 20.4%, reaching P441.8bn from P366.7bn registered in 2015. The aggregated investment approvals in 2016 were generated from 377 projects and are expected to generate about 67,615 in new jobs when these investment projects become fully operational. The rise in investment pledges in 2016 underscores the continued confidence of investors with the country’s sustained strong macroeconomic fundamentals, said Trade Secretary and BOI Chairman Ramon Lopez.