Total approved foreign investments in fourth quarter of 2022 up 30.1% to P173.61 billion
Total foreign investments approved in the fourth quarter of 2022 amounting to P 173.61 billion was higher by 30.1 percent compared with P 133.47 billion reported in the same quarter of 2021, the Philippine Statistics Authority (PSA) said Thursday.
These investments were pledges from the 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).
No foreign investment approvals were reported from Cagayan Economic Zone Authority (CEZA), Poro Point Management Corporation (PPMC), and Tourism Infrastructure and Enterprise Zone Authority (TIEZA) for the fourth quarter of 2022.
The bulk of FI commitments for the fourth quarter of 2022 was from Singapore (64.2 percent), followed by Japan (21.5 percent), and United Kingdom (5.9 percent).
Singapore committed P 111.47 billion, while Japan and United Kingdom pledged P37.41 billion and P10.22 billion, respectively.
Information and communication bested all other industries as it stands to receive P 114.29 billion or 65.8 percent of the total FI pledges.
Real estate activities came in second with investment commitments valued at PP 35.57 billion or 20.5 percent share, followed by manufacturing with P 19.30 billion or 11.1 percent FI contribution.
The biggest chunk of the approved foreign investment in the fourth quarter of 2022, amounting to P101.36 billion or 58.4 percent of the total FI, was intended to finance projects classified as “nationwide” or situated in various regions of the country.
This was followed by Ilocos region with P32.66 billion (18.8 percent), Calabarzon with P 30.71 billion (17.7 percent), and Central Luzon with P 5.70 billion (3.3 percent).
Meanwhile, the combined approved investments of foreign and Filipino nationals reached P478.16 billion in the fourth quarter of 2022 or an increase of 17 percent compared with P 408.54 billion in the same quarter of the previous year.
Filipino nationals contributed P 304.55 billion or 63.7 percent.
Projects of approved investments of foreign and Filipino nationals in the fourth quarter of 2022 were projected to generate a total of 37,766 employment. Out of this total anticipated employment for the period, approved projects with foreign interest were projected to generate 23,364 employment. Philippine Statistics Authority
