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Press Statement
Total Approved FDI in Second Quarter 2008 up by 23.5 percent 
(PR-200811-ES4-08, Posted 6 November 2008)
Foreign direct investments (FDI) registered and approved in the second quarter (Q2) of 2008 by the Board of Investments (BOI), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA) reached PhP 73.9 billion, higher by 23.5 percent than PhP 59.8 billion in the same period in 2007.
The United Kingdom (UK), Korea and United States of America led all other countries in FDI pledges in both the first and second quarters of 2008. Japan which has consistently been among the top three investors, fell to fifth position.
For Q2 2008, UK and Korea committed PhP 21.8 billion and PhP 21.3 billion, accounting for 29.5 percent and 28.9 percent, respectively, of the total approved FDI for the quarter. Both countries’ pledges were intended mostly for the electricity industry, particularly on power generation, putting the industry to get 55.5 percent of the total approved FDI or PhP 41.0 billion worth of investments for the quarter. A major portion of Korea’s commitments was likewise aimed at financing tourism-related projects.
Apart from electricity, industries receiving the most number of investment pledges during the quarter were manufacturing and private services. Manufacturing contributed 19.3 percent, or PhP 14.3 billion while 16.6 percent or PhP 12.2 billion came from private services. The pledges were intended mostly to fund projects related to the manufacture of electronic components, and establishment of resort and other tourism related operations.
Approved FDI projects for the period are expected to create 54,805 jobs, more than double last year’s projected employment of 27,195 jobs.
Seventy one percent of all FDI pledges made in the second quarter of 2008 were registered through BOI, which approved PhP 52.3 billion worth of investments. PEZA and SBMA shared 16.0 percent and 10.8 percent, respectively, of the total FDI approved for the quarter while CDC contributed 2.4 percent.
LINA V. CASTRO
Officer-in-Charge
Office of the Secretary General
Contact Persons:
Ms. Regina S. Reyes/ Ms. Luzviminda S. Mitra
Tel. No.: (+6 32) 895-5002; (+6 32) 896-7981
E-mail: rs.reyes@nscb.gov.ph; ls.mitra@nscb.gov.ph;
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