Foreign investment pledges made with six investment promotion agencies of the government increased to P173.61 billion in the fourth quarter, up 30 percent from the P133.47 billion made in the year-earlier period, the Philippine Statistics Authority said.
Nearly two-thirds, or 64 percent, of these foreign investment pledges in the fourth quarter came from Singapore, at a total P111.47 billion; followed by Japan and United Kingdom at P37.41 billion and P10.22 billion, respectively.
A total P114.29 billion were pledged by foreign investors for information and communication ventures, real estate activities attracted P35.57 billion, while manufacturing drew P19.30 billion.
Investment data were collected from Authority of the Freeport Area of Bataan, Board of Investments, BOI-Bangsamoro Autonomous Region in Muslim Mindanao, Clark Development Corp., Philippine Economic Zone Authority, and Subic Bay Metropolitan Authority.
Meantime, combined investments of foreign and Filipinos reached P478.16 billion in the fourth quarter, up 17 percent on year. Filipino investors accounted for P304.55 billion of total investment pledges.
The combined investment pledges of Filipino and foreign investors are projected to generate a total of 37,766 employment, with 23,364 coming from the pledged foreign investment.
