Philippines’ foreign investments surge 220.7% YoY in Q2

Philippines total foreign investments (FI) reached PHP 189.50 billion in the second quarter, a significant 220.7 per cent surge compared to the PHP 59.09 billion recorded in the same period of 2023.

Six investment promotion agencies contributed to these figures: The Board of Investments (BOI), BOI-Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA), Subic Bay Metropolitan Authority (SBMA), and Zamboanga City Special Economic Zone Authority (ZCSEZA).

Switzerland emerged as the leading investor, contributing PHP 172.04 billion or 90.8 per cent of the total approved FI. Japan and Malaysia followed with investments of PHP 7.68 billion and PHP 4.53 billion, respectively.

The electricity, gas, steam, and air conditioning supply industry attracted the largest share of foreign investments, accounting for PHP 172.74 billion or 91.2 per cent of the total.

The manufacturing, administrative and support service sectors secured PHP 12.39 billion and PHP 2.84 billion, respectively.

Negros Island Region emerged as the top recipient of foreign investments, with PHP 86.46 billion or 45.6 per cent of the total. CALABARZON and Central Visayas followed with PHP 6.93 billion and PHP 4.35 billion, respectively.

Overall investments, including both foreign and Filipino capital, reached PHP 715.01 billion in the second quarter, a 125.4 per cent increase from the previous year. Filipino nationals contributed PHP 525.51 billion or 73.5 per cent to this total.

Attribution: Philippine Statistics Agency report

Subediting: M. S. Salama