Compared to the total investments approved in the first quarter of 2007, the approvals made in the first quarter of 2008 were lower by 6.3 percent from PhP 41.7 billion to PhP 39.1 billion. 

The total approved investments was dominated by foreign investors, contributing PhP 20.0 billion or 51.1 percent share.  However, this was not enough to compensate for the decline in the investments committed by Filipino nationals, which dropped by 19.8 percent from PhP 23.8 billion to Php19.1 billion.  Contributions by the foreign and Filipino nationals to the overall growth rate of –6.3 percent, tallied at 5.0 and –11.3 percentage points, respectively.

Total Approved Investments by Foreign and Filipino Nationals:
First Quarter, 2007 and 2008

PEZA bested all other IPAs in attracting more investors as it contributed 71.0 percent of the total investments approved for the quarter.  PEZA approved PhP 27.7 billion worth of investments, up by 14.3 percent from PhP 24.3 billion committed in the first quarter of 2007. BOI, with 28.3 percent share, approved investment pledges valued at PhP 11.0 billion, 32.6 percent lower than the approvals made in the same period last year.

The rest of the investment pledges amounting to PhP298.3 million were registered through the SBMA and CDC.  CDC’s investment approval for the quarter ballooned to PhP 298.0 million from PhP 72.2 million.

Of the 41,390 new jobs expected from total approved investments during the quarter, almost half (49.3 percent) or 20,410 jobs will be contributed by manufacturing.  Private services stands to supply 31.5 percent; communication, 7.6 percent; finance and real estate, 5.3 percent; and mining, 4.3 percent.

Projected Employment from Approved Investments, by industry
First Quarter, 2007 and 2008