THE total foreign direct investments (FDI) approved by the government climbed 32 percent to P25 billion in the third quarter of the year, according to figures released by the National Statistical Coordination Board (NSCB).
NSCB, an attached agency of the National Economic and Development Authority, said the total approved FDIs for January to September reached P87.3 billion or almost 10 percent higher than what the government approved in the same period last year. “Japan, one of the country’s constant sources of FDI, has been leading all other countries for two consecutive quarters,” the NSCB said.
For July to September, Japan’s share was pegged at 38.6 percent or P9.7 billion. The amount is 53.5 percent higher than the P6.3 billion it pledged in the same period last year.
“Japan’s prospective ventures are mostly in manufacturing, particularly, manufacturing of motorcycle and siding board,” the report said.
Businessmen from South Korea were the second-biggest investors in the Philippines, accounting for 18 percent of P4.5 billion.
Investors from the United States accounted for 8.2 percent of FDIs or P2 billion.
The majority of the investments of South Korea and the US are intended to finance projects in electricity, gas, steam and air conditioning supply and agriculture, forestry and fishing.
Meanwhile, Filipinos continued to dominate investments approved during the quarter, with their share placed at 87 percent or P167 billion.
“The majority of investments committed by Filipinos are intended to finance activities in mining and quarrying; electricity, gas, steam and air conditioning supply; and real estate,” the report said.
The approved investments of foreigners and Filipinos tripled to P192 billion from P55.8 billion during the period.
The NSCB noted, however, that investments in information and communications technology proposed by foreigners and Filipinos in the third quarter declined by almost 50 percent to P2.4 billion.
The investments were approved by four major investment promotion agencies, namely, the Board of Investments, Clark Development Corp., Philippine Economic Zone Authority and Subic Bay Metropolitan Authority.
