Registered investments both from local and foreign sources in investment promotion agencies (IPAs) improved by 17 percent to P478.16 billion in the fourth quarter of 2022 from P408.54 billion in the same quarter the previous year, according to Philippine Statistics Authority (PSA) figures.
The Board of Investments (BOI) registered the largest approvals amounting to P366.7 billion, or 76.7% of the total investment approvals in October to December.
This is followed by the Philippine Economic Zone Authority (PEZA), with investment pledges amounting to P101.07 billion, or sharing 21.1% of the total approved investments in the last quarter of the previous year, and the Subic Bay Metropolitan Authority (SBMA) with total project registration of P7.24 billion.
The PSA said these investment projects are expected to generate 37,766 jobs.
Top three industries with highest approvals were information and communication, with registered projects amounting to P198.74 billion; electricity, gas, steam and air conditioning supply at P96.03 billion; and real estate activities at P96.01 billion.
Majority of these investments will be infused in Region 4-A (Calabarzon), getting P97.8 billion worth of projects, followed by Region 1 (Ilocos) with P89.74 billion projects, and Region 3 (Central Luzon) with P41.01 billion projects.
The PSA said these investment projects are expected to generate 37,766 jobs.
Meanwhile, total approved foreign investments alone increased by 30.1% in the fourth quarter of 2022 to P173.61 billion from P133.74 billion in the same period in 2021.
“The bulk of foreign investment commitments for the fourth quarter of 2022 was from Singapore (64.2%), followed by Japan (21.5%), and the United Kingdom (5.9%). Singapore committed P111.47 billion, while Japan and the United Kingdom pledged P 37.41 billion and P 10.22 billion, respectively,” PSA said.