Foreign investment pledges jumped 105% in Q2
Investment pledges from foreign sources surged by 105% to P46.23 billion (US$825 million) in the second quarter of 2022, more than doubling the record from a year ago.
According to data from the Philippine Statistics Authority (PSA), these investments came from various investment promotion agencies (IPAs) — including the Board of Investments (BOI), BOI-Bangsamoro Autonomous Region in Muslim Mindanao, Clark Development Corp., Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA).
Among the different IPAs, the bulk of foreign investments (71.34%) was approved by SBMA, followed by PEZA with 20.17%.
In terms of country source, the Netherlands topped the list of foreign investments in Q2 with a 41.2% share, amounting to P19.04 billion (US$340 million). Singapore came in second with P15.89 billion (US$283 million), followed by Japan with P6.51 billion (US$116 million).
Meanwhile, 41.7% of the total approved foreign investments in the second quarter, amounting to P19.3 billion (US$345 million), were pledged for real estate activities.
By region, the biggest chunk of the approved foreign investments Q2 was intended for projects in Central Luzon, amounting to P33.94 billion (US$606 million) or 73.4% of the total.
The foreign investment pledges for the second quarter are expected to generate 12,626 jobs across the country.
