PH records P173Bn investment pledges in Q4
MANILA, PHILIPPINES — Total foreign investments (FI) approved reached Php173.61 billion (US$3.15 billion) in the fourth quarter of 2022, up 30.1% from 2021’s figures.
According to data from Philippine Statistics Authority (PSA), the bulk of investment pledges came from Singapore, with Php111.47 billion (US$2.02 billion) or 64.2% of the total.
Japan fell second with Php37.41 billion (US$678 million( or 21.5 % of approved FIs, while the United Kingdom held third place with Php10.22 billion (US$185 million) or 5.9%.
Meanwhile, Information and Communication bested all other industries as it stands to receive Php114.29 billion (US$2.07 billion) or 65.8% of the total FI pledges.
Real Estate Activities came in second with investment commitments valued at Php35.57 billion (US$645 million) or 20.5% share, followed by Manufacturing with Php19.30 billion (US$350 million) or 11.1% FI contribution.
All these investment pledges are projected to generate 37,766 jobs for Filipinos nationwide.
PSA’s latest data is an accumulation of approved investment pledges from six Investment Promotion Agencies (IPAs), namely: 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).
