FOREIGN direct investments (FDIs) in the country increased by 8.1 percent in the third quarter of 2007, according to the National Statistical Coordination Board (NSCB), with approvals reaching P34.9 billion from P32.3 billion in the same quarter a year ago.

The sectors registering the biggest capital inputs were manufacturing, finance, real estate and private services.

The manufacturing sector was infused with 76.6 percent of the total approved FDIs; finance and real estate with 9.3 percent; and private services, 8.5 percent.

Other sectors include mining with 2.6-percent share and gas with 1.5 percent. The last time that investment commitments were made on the gas sector was in the third quarter of 2005.

“The mining sector continued to receive pledges from foreign investors, which started in the second quarter of 2006, while fresh investments of P533.4 million are expected to go to the gas sector, particularly in the installation of an air-separation unit plant and a carbon-dioxide plant,” the NSCB said in a statement.

The NSCB noted that a total of 39,496 jobs are forecast to be generated from these investments. This is an 18.3-percent increase from the 33,380 new jobs seen from projects approved in the third quarter of 2006.

Japan topped the list of foreign investors, pledging P21.7 billion, or 62 percent of total approved FDI, more than doubling its year-ago level of P9 billion.

 “The chunk of the pledges from Japan is in the manufacturing sector, particularly in the manufacture of electronic products.”

Korea was second with a pledge of P2.7 billion to finance and real estate, and services sectors. The third-largest share is from the United States with P2.4 billion.

Among the investment-promotion agencies, only the Philippine Economic Zone Authority (Peza) and Subic Bay Metropolitan Authority (SBMA) registered increases in investment approvals.

Peza beat all others in terms of FDI approvals with 78.8 percent of total FDIs approved. Investment applications approved by the SBMA, on the other hand, totaled 6.5 percent of all FDI approvals for the period.

AUSTRALIAN-based Nido Petroleum Corp. is looking forward to the start of production of the wells in an oil field in offshore Palawan following the completion of the drilling phase of the Galoc development.  

THE National Economic and Development Authority (Neda) is currently reviewing its processes and has already designated its Regional Development Offices (RDOs) and Neda Regional Offices (NROs) to become the lead evaluator for region-based proposals.

FOREIGN direct investments (FDIs) in the country increased by 8.1 percent in the third quarter of 2007, according to the National Statistical Coordination Board (NSCB), with approvals reaching P34.9 billion from P32.3 billion in the same quarter a year ago.

CEBU CITY—Officials from the Cebu City and Cebu provincial governments said Wednesday the stalled land-swap deal, which could affect 5,000 urban- poor families and some 50 hectares of prime commercial properties, could still push through if only Mayor Tomas Osmeña and Gov. Gwendolyn Garcia start talking again.

THE Department of Trade and Industry (DTI) is opening up new business-name registration centers in Metro Manila to accommodate the expected flood of applications for the first quarter of the year, which is the traditional peak season.

CLARK FREEPORT—The passenger volume at the Diosdado Macapagal International Airport (DMIA) here increased by 9.18 percent or by nearly 45,000 in 2007  over the 2006 figures, a development that further brightens the prospects of the Clark airport eventually becoming the country’s premier international gateway.

MUNTINLUPA City deleted from the process those agencies that merely note down business’ basic data, thus reducing its 14-step business permit renewal process to just six steps.