QUEZON CITY -- Total foreign investments (FI) approved in the third quarter of 2021 reached PhP 16.82 billion, lower by -45.8 percent compared with PhP 31.03 billion in the same quarter of 2020. These investment pledges were from four investment promotion agencies (IPAs), namely: Board of Investments (BOI), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA). No investment approvals from foreign nationals were reported by Authority of the Freeport Area of Bataan (AFAB), BOI-Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM), and Cagayan Economic Zone Authority (CEZA). (Figure 1, and Tables 1a and 1b)

The FI commitments for the third quarter of 2021 were mainly driven by investments from Japan which accounted for 66.4 percent of the total approved FI, followed by Netherlands (9.2%) and British Virgin Islands (4.2%). Japan committed PhP 11.16 billion, while Netherlands and British Virgin Islands pledged PhP 1.56 billion and PhP 698.32 million, respectively. (Table 2)

Manufacturing industry bested all other industries as it stands to receive PhP 11.01 billion or 65.5 percent of the total FI pledges. Real Estate Activities came in second with investment commitments valued at PhP 2.70 billion or 16.0 percent share, followed by Administrative and Support Service Activities with PhP 2.38 billion or 14.2 percent FI contribution. (Table 3)

Majority of the approved foreign investments during the third quarter of 2021 amounting to PhP 8.45 billion (50.2%) were intended to finance projects in CALABARZON. This was followed by Ilocos Region with PhP 3.40 billion (20.2%) and Central Luzon with PhP 2.12 billion (12.6%). (Table 4)

In the third quarter of 2021, approved projects with foreign interest were projected to generate 10,268 jobs based on reports of the IPAs. (Table 5) (PSA)