Thursday, 17 February 2011

Investor pledges up 72.7% in 2010 to P542.6 billion

J. A. D. Hermosa
-- J. A. D. Hermosa

INVESTMENT pledges filed with four incentive-granting agencies rose by 72.7% to P542.6 billion last year with Filipino firms leading the pack, data released yesterday showed.

Manufacturing projects accounted for roughly two-fifths of the commitments recorded by the Board of Investments, Philippine Economic Zone Authority (PEZA), Subic Bay Metropolitan Authority (SBMA) and Clark Development Corp.

Filipino investors were behind two-thirds of the figure or P346.5 billion. This was a 79.9% increase from 2009. Foreign investors, meanwhile, pledged P196.1-billion worth of projects, up by 61%.

Nearly a third (29.8%) of the foreign direct investment (FDI) pledges came from Japan. The Netherlands, Korea, Switzerland, the United States and Cayman Islands trailed behind as other top sources of proposed FDI.

The committed projects from both Filipino and foreign investors are expected to generate 134,534 jobs once they come on stream. This, however, is 27% less than the employment figure forecast from investment pledges filed in 2009.

Most of the new jobs will be seen in PEZA sites as investments registered with this state agency are projected to create nearly two-thirds of the forecast employment.

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