Foreign Investment Pledges More than Double in Q2 2022

Approved foreign investment pledges more than doubled in Q2 2022 compared to the same period last year, with the total value of foreign commitments PHP 46.231 billion (USD 825.10 million) for the quarter, up 105 percent from the PHP 22.503 billion (USD 401.62 million) recorded in Q2 2021. This was the highest amount recorded since the PHP 133.471 billion (USD 2.38 billion) in approved foreign investment pledges recorded in Q4 2021. The largest source of approved investment pledges for the quarter was the Netherlands at PHP 19.037 billion (USD 339.76 million), followed by Singapore’s PHP 15.887 billion (USD 158.87 million) and Japan’s PHP 6.508 billion (116.15 million). According to the Philippine Statistics Authority, 41.7 percent or PHP 19.295 billion (PHP 344.36 million) of the approved foreign investments would go towards the real estate sector. Meanwhile, investment pledges in the transportation and storage sector tallied some PHP 14.524 billion (USD 259.21 million), followed by manufacturing at PHP 6.154 billion (USD 109.83 million).