By Ernesto V. Afable
The Aquino administration has approved a total of P44.1-billion in foreign direct investments (FDI) on the second quarter (Q2) of 2012, or 9.4 percent higher than the recorded P40.3 billion in the same period last year, the National Statistical Coordination Board (NSCB) reported on Thursday.
NSCB Assistant Secretary General Lina V. Castro, in a report, bared that the P44.1 billion FDI for the Q2 was granted by government’s seven
investment promotion agencies (IPAs) namely: Board of Investments (BOI); Clark Development Corporation (CDC); Philippine Economic Zone Authority (PEZA); Subic Bay Metropolitan Authority (SBMA); Authority of the Freeport Area of Bataan (AFAB); BOI-Autonomous Region of Muslim Mindanao (BOI-ARMM); and Cagayan Economic Zone Authority (CEZA).
So far, she said, the FDI for the first six month of 2012 had reached P62.6 billion, up slightly by 0.4 percent from last year’s P62.3 billion.
Castro cited Japan, Netherlands, and the United States of America (USA) as the top three investing countries for the Q2 of 2012 in the Philippines.
Statistics presented by Castro showed that Japan bested other countries as it pledged P17.4 billion or 39.6 percent share. The Netherlands came in second with P9.8 billion or 22.3 percent, and the USA with P4.3 billion or 9.7 percent of the total FDI approved in the Q2 of 2012.
Data showed that Manufacturing remains as the industry to have received top share in total foreign commitments reaching 80.4 percent or P35.4 billion during the quarter.
Transportation and storage came in second with investment pledges valued at P2.5 billion, contributing 5.8 percent.
Real estate activities net the third spot at P1.9 billion or 4.4 percent share.
In sum, the total approved investments of foreign and Filipino nationals have reached P202.8 billion in the Q2 of 2012, increasing by 27.2 percent from last year’s P159.4 billion.
Filipino nationals continued to dominate investments approved during the quarter, sharing 74.6 percent or P151.2 billion worth of pledges.
Castro said, the bulk of the investments committed by Filipinos are intended to finance activities in electricity, gas, steam and air conditioning supply, contributing P95.1 billion and with a share of 46.9 percent, followed by manufacturing at P38.6 billion or 19.0 percent share, and real estate activities at P30.8 billion or 15.2 percent share.
She claimed that the total projects of foreign and Filipino investors approved by the seven IPAs for the Q2 of 2012 are expected to create 33,381 jobs, declining by 43.2 percent from last year’s projected employment of 58,819 jobs in the same period.
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