Investments listed by BOI, PEZA jump 58% to P586 B in 11 mos

MANILA, Philippines - Investments approved by the two attached agencies of the Department of Trade and Industry (DTI) jumped 57.7 percent in the first months of the year to P585.937 billion, Trade and Industry Secretary Gregory L. Domingo reported yesterday.

He said the combined approved investments of the Board of Investments (BOI) and the Philippine Economic Zone Authority (PEZA) from January to November this year leaped from P371.543 billion in the same period a year ago.

Of the total investments, P154.601 billion came from foreign investors while local investors accounted for the remaining P431.336 billion. Despite the low share of foreign investments, foreign investment commitments went up 76.46 percent, during the period, Domingo noted. 

The number of projects likewise jumped 34 percent to 894 from 667 in January to November 2010. Employment generated also went up 43.91 percent to 149,795 from 104,090.

The manufacturing sector cornered the biggest chunk with investments ballooning 181.13 percent to P217.002 billion from P77.189 billion. This was followed by investments in real estate activities which went up 123 percent to P138.841 billion from P62.242 billion. Third was electricity, gas, steam and air conditioning supply, although investments in this sector dropped 45 percent to P101.570 billion from P185.360 billion.

At fourth place was mining and quarrying, with investments in the sector increasing 112 percent to P63.286 billion from P8.107 billion. Fifth was transportation and storage which recorded a 112.19 percent increase in investments to P24.245 billion from P11.427 billion.

By agency, PEZA investments grew 92.24 percent to P223.533 billion from P116.278 billion during the same period a year ago. Likewise, foreign investments in PEZA went up 91.74 percent to P131.850 billion from P68.764 billion. Local investments also grew 92.96 percent to P91.683 billion from P47.515 billion.

The number of projects in PEZA zones went up 28 percent to 582 from 453 while employment generated also went up 14.25 percent to 86,470 from 75,683.

The biggest sector was also manufacturing with a 68 percent increase to P112.806 billion from P67.119 billion. This was followed by real estate activities which grew 146.91 percent to P69.140 billion from P28 billion.

On the other hand, BOI investments amounted to P362.404 billion, 42 percent higher than the P255.264 billion recorded in the same period a year ago.