Total IPA-approved investments in the first quarter of 2017 amounted to PhP121.46 billion, higher by 21.8% from the PhP99.70 billion approved in the same period last year. Of this total amount, 81.2% of (or PhP98.57 billion) came from Filipino investors, and 18.8% (or PhP22.88 billion) from foreign investors.
The Netherlands was the Philippines’ top investing country during the same period, with its investment commitments totaling PhP6.22 billion, accounting for 27.2% of total foreign pledges for the quarter. This is followed by Singapore, PhP4.30 billion (18.8%), UK, PhP3.63 billion (15.9%), USA, PhP2.43 billion (10.6%), and South Korea, PhP0.74 billion (3.2%).
Foreign investment commitment for manufacturing was the largest at PhP15.01 billion (65.6%), an increase of 52.9% from last year’s PhP9.82 billion. Administrative and support service activities came in second with PhP3.52 billion (15.4%), followed by real estate activities with PhP3.43 billion (15.0%), electricity, gas steam and air conditioning supply with PhP0.34 billion (1.5%), and accommodation and food service activities with PhP0.23 billion (1.0%).