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Press Release
Fourth quarter 2007 approved FDI among the highest since 1997 
(PR-200803-ES4-03, Posted 12 March 2008)
The fourth quarter of 2007 saw a big leap of 492.1 percent in approved foreign direct investments (FDI) from the same period last year. Total approved FDI amounted to PhP 102.6 billion in the fourth quarter of 2007, from PhP 17.3 billion in the same quarter in 2006.
The highest recorded approved FDIs were in the first quarter of 2004 at PhP118.6 billion, and in the third quarter of 1997 at PhP 116.6 billion, making the fourth quarter 2007, the third highest in 12 years 1.
The electricity industry received the major chunk of investment pledges worth PhP 52.5 billion or 51.2 percent of the total approved FDI for the quarter, followed by private services with 13.0 percent share. Meanwhile, manufacturing which has consistently topped the recipients of FDI pledges, accounted for 12.9 percent or PhP 13.3 billon worth of investment commitments.
Other industries that showed increased amount of investments causing total FDIs to balloon in the fourth quarter of 2007 include mining, construction and finance and real estate, accounting for 7.9 percent, 6.5 percent and 5.6 percent of total FDI for the quarter, respectively. The mining industry continued to receive pledges from foreign investors, which started in the second quarter of 2006. Meanwhile, construction bested all other industries in terms of growth, expanding tremendously from PhP 0.7 billion in the fourth quarter of 2006 to PhP 6.7 billion in the fourth quarter of 2007, growing by almost ten times.
The projects envisioned from the FDI approved by the four investment promotion agencies (IPAs) in the fourth quarter of 2007 are expected to generate a total of 28,628 jobs, up by 22.8 percent from the 23,322 jobs expected from projects approved in the same period in 2006.
All other IPAs registered increases in investment approvals during the last quarter of 2007 with the Board of Investments (BOI) posting the highest growth rate, having approved PhP 78.7 billion worth of investments or 24 times the PhP 3.3 billion approved in the fourth quarter of 2006.
The impressive performance of the approved FDI in the last quarter of 2007 brought the total annual FDI to PhP 215.2 billion in 2007, posting a 29.8 percent growth from its 2006 level of PhP165.9 billion.
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
1 The FDI compilation started in 1996 through the NSCB Inter Agency Committee on Foreign Direct Investment Statistics
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