By Czeriza Valencia (The Philippine Star), Dece. 21, 2016
MANILA, Philippines – Foreign investment pledges approved by the country’s seven investment promotion agencies (IPAs) fell 45 percent in the third quarter this year, the Philippine Statistics Authority (PSA) reported yesterday.
The IPAs include the Board of Investments (BOI), Clark Development Corp. (CDC), Philippine Economic Zone Authority (PEZA), Subic Bay Metropolitan Authority (SBMA), Authority of the Freeport Area of Bataan (AFAB), BOI-Autonomous Region in Muslim Mindanao (BOI-ARMM), and Cagayan Economic Zone Authority (CEZA).
Investments committed from July to September totaled P26.7 billion, lower than the P48.6 billion pledged in the same period last year.
In the first nine months of the year, approved foreign investments dropped 12.4 percent to P93.3 billion from P106.6 billion in the same period in 2015.
Most of the foreign investments approved in the third quarter originated from South Korea, the US and Singapore.
South Korea committed P6.5 billion, corresponding to 24.3 percent of total, while the US and Singapore pledged P4.6 billion and P4.1 billion, respectively, corresponding to 17.2 percent and 15.3 percent of approved investments.
By industry sector, 49.4 percent of the investment commitments were made in the electricity, gas, steam and air conditioning supply worth P13.2 billion. Manufacturing cornered total investments valued at P5.1 billion (18.9 percent of total) while transportation and storage had total investments of P3.5 billion (13.2 percent of total).
By location, the bulk of foreign investment pledges approved in the third quarter of the year – P5.5. billion or 20.4 percent of the total – would finance projects in the National Capital Region. Other prominent investment destinations are: Soccsksargen (P4.7 billion, 17.7 percent of total) and Negros Island Region (P4.5 billion, 16.9 percent of total).
Combined investments of foreign and Filipino nationals in the third quarter reached P133.8 billion, down 20.4 percent from P168.2 billion in the same period last year.
All projects approved by the seven IPAs in the third quarter are expected to create 33, 590 jobs, out of which 83.2 percent would come from projects with foreign interest.
Foreign investments approved by the investment promotion agencies differ from actual investment inflows reported by the central bank.
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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