Total IPA-approved investments in the first semester of 2017 amounted to PhP351.91 billion, higher by 26.9% from the PhP277.39 billion approved in the same period last year. Of this total amount, 88.3% of (or PhP310.87 billion) came from Filipino investors, and 11.7% (or PhP41.04 billion) from foreign investors.
The Netherlands was the Philippines’ top investing country during the same period, with its investment commitments totaling PhP7.65 billion, accounting for 18.6% of total foreign pledges for the semester. This is followed by Singapore, PhP6.66 billion (16.2%), Japan, PhP5.45 billion (13.3%), USA, PhP4.44 billion (10.8%), and UK, PhP3.68 billion (9.0%).
Foreign investment commitment for manufacturing was the largest at PhP21.68 billion (52.8%), a decrease of 9.9% from last year’s PhP24.06 billion. Administrative and support service activities came in second with PhP7.63 billion (18.6%), followed by real estate activities with PhP7.26 billion (17.7%), electricity, gas steam and air conditioning supply with PhP2.17 billion (5.3%), and transportation and storage with PhP1.00 billion (2.4%).