The total foreign investments (FI) approved in 2022 posted a double-digit growth of 25.6 percent versus the year ago level, data released by the Philippine Statistics Authority (PSA) showed.
According to the PSA, FI commitments rose to P241.89 billion last year from the P192.55 billion recorded in 2021.
Bulk of the approved FIs was recorded in the fourth quarter, which then amounted to P173.61 billion, higher by 30.1 percent compared with the P133.47 billion reported in the same quarter of the previous year.
Bulk of FI commitments in 2022 was from Singapore (54 percent), followed by Japan (21.5 percent) and the Netherlands (8.5 percent).
Singapore committed P130.63 billion, while Japan and the Netherlands pledged P51.98 billion and P20.66 billion, respectively.
Information and communication bested all other industries as it stands to receive P114.41 billion or 47.3 percent of the total FI pledges in 2022.
Real estate activities came in second with investment commitments valued at P57.15 billion or 23.6 percent share, followed by manufacturing with P37.8 billion or 15.6 percent FI contribution last year.
The biggest chunk of the approved FIs in 2022, amounting to P101.36 billion or 41.9 percent of the total commitments, was intended to finance projects classified as “nationwide” or situated in various regions of the country.
This was followed by Calabarzon with P45.88 billion (19 percent) and Central Luzon with P43.31 billion (17.9 percent).
Meanwhile, the combined approved investments of foreign and Filipino nationals reached P927.74 billion in 2022 or an increase of 22.2 percent compared with the P758.98 billion posted in the previous year. Filipino nationals contributed P685.85 billion or 73.9 percent.
Projects of approved investments of foreign and Filipino nationals in 2022 were projected to generate a total of 99,425 employment. Out of this total anticipated employment for the period, approved projects with foreign interest were projected to generate 63,639 employment.
