By Kris M. Crismundo
MANILA, March 2 (PNA) — The Philippine government’s seven investment promotion agencies (IPAs) had drawn a total of Php186.94 billion worth of foreign investments for the full-year of 2014, the Philippine Statistics Authority (PSA) reported Monday.
PSA’s National Statistical Coordination Board (NSCB) data also show that the fourth quarter of 2014 recorded the highest amount of foreign investments in IPAs amounting to Php95.19 billion.
The Philippine Economic Zone Authority (PEZA) attracted largest amount of foreign investments in the previous year with a total of Php127.5 billion worth of foreign investment inflows.
The Board of Investments (BOI) registered second largest foreign investments value at Php36.89 billion.
Both PEZA and BOI are under the Department of Trade and Industry (DTI).
Subic Bay Metropolitan Authority (SBMA), on the other hand, secured Php12.28 billion worth of foreign investments in 2014 — the third highest among the seven IPAs.
The Clark Development Corporation (CDC) got a total of Php8.97 billion foreign investments last year while BOI-Autonomous Region of Muslim Mindanao (BOI-ARMM) shared Php579.6 million to the total foreign investments inflows in 2014; Authority of the Freeport Area of Bataan (AFAB) with Php406 million; and Cagayan Economic Zone Authority (CEZA) with Php342 million.
Moreover, PSA-NSCB noted that for the full-year of 2014, Japan was the largest foreign investment source of the country with a total investments of Php35.66 billion which is followed by the Netherlands with investments in the Philippines worth Php32.78 billion; USA with Php17.42 billion; Cayman Islands with Php15.44 billion; Singapore with Php13.94 billion; and China with Php11.48 billion worth of investments among others.
Other source of foreign investments of the country include, British Virgin Islands, United Kingdom, Germany, South Korea, Taiwan, Australia, Switzerland, Hong Kong, Denmark, India, France, Canada, Malaysia, and Thailand.
Huge amount of foreign ventures here last year were invested in the sectors of manufacturing with investments of Php109 billion, followed by administrative and support service with Php29.76 billion, and real estate with Php15.58 billion.
Meanwhile, the total foreign investments drawn by the seven IPAs for the full-year of 2014 declined by 31.8 from 2013’s amount of Php274 billion while foreign investments in Q4 2014 also decreased by 27.9 percent from Q4 2013’s amount of Php131.96 billion. (PNA)