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Press Release
Approved FDI for the third quarter of 2007 up by 8.1 percent 
(PR-200801-ES4-01, Posted 07 January 2008)
Approved foreign direct investments (FDI) in the third quarter of 2007 totaled to PhP 34.9 billion from PhP 32.3 billion in the same quarter a year ago, posting a growth of 8.1 percent.
The manufacturing, finance and real estate, and private services sectors remain as the top recipients of FDI pledges, with the manufacturing sector cornering 76.6 percent of the total approved FDI in the third quarter of 2007; finance and real estate with 9.3 percent; and private services, 8.5 percent.
Other sectors that received considerable amount of investment pledges during the quarter include mining with 2.6 percent share and gas, 1.5 percent. The mining sector continued to receive pledges from foreign investors, which started in the second quarter of 2006 while fresh investments of PhP 533.4 million are expected to go to the gas sector, particularly in the installation of an air separation unit (ASU) plant and a carbon dioxide (CO2) plant. The last time that investment commitments were made on the gas sector was in the third quarter of 2005.
Total approved FDI
by industry share
(in billion pesos)
Third quarter 2006 and 2007
Total approved FD
(in billion pesos)
Third Quarter 2007
A total of 39,496 jobs are projected to be generated from foreign investments approved for the quarter, up by 18.3 percent from the 33,380 jobs expected from projects approved in the third quarter of 2006.
Japan topped the list of foreign investors, pledging PhP 21.7 billion or 62 percent of total approved FDI, more than doubling its year ago level of PhP 9.0 billion. The major chunk of the pledges from Japan is in the manufacturing sector, particularly in the manufacture of electronic products. Korea came in next with its pledge to inject PhP 2.7 billion to the finance and real estate, and services sectors, followed by the United States of America (USA) with PhP 2.4 billion worth of investments.
Among the investment promotion agencies (IPAs), only the Philippine Economic Zone Authority (PEZA) and Subic Bay Metropolitan Authority (SBMA) registered increases in investment approvals. PEZA beats all other IPAs in terms of FDI approvals, having approved 78.8 percent of total FDI. Investment applications approved by SBMA in the third quarter of 2007 grew significantly from PhP 0.3 billion in the same period in 2006 to PhP 2.3 billion, contributing 6.5 percent of total FDI approvals for the period.
ROMULO A. VIROLA
Secretary General
Contact Persons:
Regina S. Reyes
and Christopher Ivo S. Bacani
Tel. No.: (+6 32) 895-5002; (+6 32) 896-7981
E-mail: rs.reyes@nscb.gov.ph ; cis.bacani@nscb.gov.p
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