Second Quarter 2007

• Total approved foreign direct investments (FDIs) grew by 23.6 percent in the second quarter of 2007, posting PhP 65.1 billion worth of pledges from PhP 52.7 billion in the same quarter a year ago.

• The growth was primarily due to the increase in investment commitments to the manufacturing, private services, and finance and real estate sectors as well as the significant infusion of fresh investment pledges to the electricity sector.

• Among countries, the United States of America (U.S.A.) was the leading source of approved FDIs in the second quarter of 2007, registering PhP 22.8 billion worth of pledges mainly to the manufacturing sector. Taiwan followed with its pledge to inject PhP 10.2 billion, practically all or 98.8 percent of which is committed to the electricity sector.

• Investment projects with foreign interest, approved in the second quarter of 2007, was estimated to generate 29,323 jobs, down by 25.7 percent from the 39,459 jobs expected from projects approved in the same period in 2006.  An estimated 19,242 jobs, representing 65.6 percent of total jobs from approved investments with foreign interest were expected to come from PEZA-approved investment projects.