MANILA – Approved foreign investment pledges (FI) reached P67.38 billion in the second quarter of the year, the Philippine Statistics Authority (PSA) said.
In a report released Thursday, the PSA said the investment pledges were approved by the Freeport Area of Bataan, Board of Investments, Bangsamoro Board of Investments, Clark Development Corporation, Clark International Airport Corporation, Philippine Economic Zone Authority, and Subic Bay Metropolitan Authority.
PSA data showed that Singapore was the largest source of FI pledges amounting to P53.48 billion or 79.4 percent of the total approved FI. The United States followed with P3.96 billion and the Netherlands with P1.91 billion.
The Bicol region got the biggest share of FI pledges, amounting to P32.21 billion or 47.8% of the total, followed by Calabarzon with P21.39 billion, and Central Luzon with P4.05 billion.
Meanwhile, the PSA said total approved investments of foreign and Filipino nationals amounted to P299.08 billion in the second quarter of the year. These are expected to generate a total of 38,234 employment opportunities, up by 41.7% from the 26,981 employment projected in the same period of 2024.
The PSA said projects in electricity, gas, steam and air conditioning supply industry continued to have the largest share, accounting for P235.62 billion or 78.8% of the total. Investments in manufacturing and information and communication meanwhile, amounted to P30.63 billion and P9.45 billion, respetively. (PNA)