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Republic of the Philippines

Third Quarter 2013

Foreign Investments

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is a quarterly publication prepared by the Economic Indicators and Satellite Accounts Division of the NATIONAL STATISTICAL COORDINATION BOARD (NSCB).

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Inside Part I - Analysis A. Approved foreign

investments……….... 4 to 10 B. Approved investments of foreign and

Filipino nationals……….. 11 to 15 C. Approved investments in the

Information and Communications Technology (ICT)

Industry………..…….….. 16 to 19 D. Actual foreign direct investments

in the Balance of Payments…… 19 to 20 Part II – Statistical Tables

Annexes

Foreign Investments in the Philippines Third Quarter 2013

Summary

Total approved foreign investments (FI), Q3 and first nine months 2013

Total foreign investments (FI)1 approved in the third quarter of 2013 by the seven investment promotion agencies (IPAs), namely: Board of Investments (BOI), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA) as well as the Authority of the Freeport Area of Bataan (AFAB), BOI- Autonomous Region of Muslim Mindanao (BOI-ARMM), and Cagayan Economic Zone Authority (CEZA) amounted to PhP 33.1 billion, 86.6 percent higher than the PhP 17.7 billion recorded in the same period last year. Meanwhile, total approved FI for the first nine months of 2013 reached PhP 126.5 billion, increasing by 114.8 percent from the amount recorded last year at PhP 58.9 billion (Figures 1a and 1b below and Part II – Tables 1a, 1b and 1c).

58.9

126.5

- 20.0 40.0 60.0 80.0 100.0 120.0 140.0

Jan - Sep 2012

Jan- Sep 2013

in billion pesos

Figure 1b Total Approved FI

January to September, 2012 and 2013

17.7

33.1

- 5.0 10.0 15.0 20.0 25.0 30.0 35.0

Q3 2012

Q3 2013

in billion pesos

Figure 1a Total Approved FI Third Quarter, 2012 and 2013

Sources of data: AFAB, BOI, BOI-ARMM, CDC, CEZA, PEZA, SBMA About this report

This report is the 65th of a series on quarterly statistics on foreign investments (FI) in the Philippines, integrating the quarterly statistical reports on FI submitted by the government’s investments promotion, administration and regulation agencies. It provides an analysis of the:

(a) Foreign investments (FI) and investments by Filipinos approved by the Board of Investments (BOI), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA), Subic Bay Metropolitan Authority (SBMA), Authority of the Freeport Area of Bataan (AFAB), BOI-Autonomous Region of Muslim Mindanao (BOI-ARMM), and Cagayan Economic Zone Authority (CEZA). Approved foreign investments represent investment commitments and pledges by foreigners regardless of the percentage of ownership of the ordinary shares, which may be realized in the near future.

(b) Foreign direct investments (FDI) as presented in the Balance of Payments (BOP) by the Bangko Sentral ng Pilipinas (BSP). FDI refers to actual foreign investments generated, with the foreign investors owning 10 percent or more of the ordinary shares.

Annex A presents the technical notes on the data and compilation methodology while Annex B gives a brief background on the Foreign Investment Information System (FIIS) that generates the FI statistics presented in this report.

Notes: (a) Starting with the Q3 2012 Report, foreign investments approved and registered by the investment promotion agencies (IPAs) is termed

“approved foreign investments,” replacing the term “approved foreign direct investments” used in the previous reports. This is to distinguish clearly the approved foreign investments from the FDI being released by the BSP.

(b) Revisions in the previous quarters’ data are based on the updates provided by the IPAs.

1 Approved FI represents the amount of proposed contribution or share of foreigners to various projects in the country as approved and registered by the IPAs. This consists of equity, loans and reinvested earnings.

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The top three prospective investing countries for the third quarter of 2013 include the British Virgin Islands, Japan, and the Netherlands. British Virgin Islands topped the list, pledging PhP 10.3 billion or 31.1 percent share during the quarter. This was followed by Japan and the Netherlands, committing PhP 5.9 billion and PhP 4.4 billion, or 18.0 percent and 13.2 percent of the total approved FI, respectively, during the quarter (Part II - Table 2a).

Meanwhile, the top three sources of FI for the first nine months of 2013 were the USA, British Virgin Islands, and Japan. USA leads the list with investment commitments of PhP 47.4 billion (Part II - Table 2b).

Manufacturing industry contributed the largest amount of committed foreign investments in the third quarter of 2013. The investment pledges for the industry was registered at PhP 11.2 billion or 33.9 percent of total FI during the quarter. Electricity, gas, steam, and air conditioning supply came in second with investment pledges valued at PhP 9.5 billion, contributing 28.8 percent, followed by accommodation and food service activities, which accounted for 13.7 percent or PhP 4.5 billion (Part II - Table 3a).

For the first nine months of 2013, electricity, gas, steam and air conditioning supply maintained the top post, with commitments of PhP 53.2 billion, followed by manufacturing at PhP 25.8 billion and accommodation and food service activities at PhP 25.1 billion. (Part II – Tables 3a and 3b).

Foreign direct investments in the Balance of Payments (BOP)2, July-August and first eight months 2013

FDI in the Balance of Payments (BOP) as compiled by the Bangko Sentral ng Pilipinas (BSP) recorded net inflows of US$ 675.0 million in July to August of 2013 from US$ 227.0 million in the same period last year or an increase of 197.4 percent (Part II – Table 14a). Meanwhile, net FDI inflows in the first eight months of 2013 amounted to US$ 2.8 billion, higher by 25.3 percent from the same period in 2012 (Part II – Table 14b).

In peso terms, FDI in the BOP for July to August 2013 posted a net inflow of PhP 28.3 billion from PhP 9.5 billion in the same period last year, increasing by 197.3 percent (Part II – Table 13a). For the first eight months of the year, FDI in the BOP recorded a net inflow of PhP 112.9 billion, posting a 19.0 percent increase from a net inflow of PhP 94.9 billion in the same period the previous year (Part II – Table 13b).

Approved investments of foreign and Filipino nationals (Q3 and first nine months 2013) Approved investments of foreign and Filipino nationals reached PhP 189.4 billion in the third quarter of 2013, increasing by 26.0 percent from last year’s PhP 150.3 billion. Filipino nationals continued to dominate investments approved during the quarter, sharing 82.5 percent or PhP 156.3 billion worth of pledges (Part II – Table 6a). Bulk of the investments are intended to finance activities in electricity, gas, steam and air conditioning supply, contributing PhP 123.2 billion and with a share of 65.1 percent, followed by real estate activities at PhP 25.7 billion or 13.6 percent share, and accommodation and food service activities at PhP 13.6 billion or 7.2 percent share (Part II – Table 7a).

For the first nine months of 2013, the total approved investments of foreign and Filipino nationals amounted to PhP 455.7 billion, 24.0 percent higher than the PhP 367.6 billion committed a year ago (Part II – Table 6b).

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Projected employment from approved investments of foreign and Filipino nationals (Q3 and first nine months 2013)

Total projects of foreign and Filipino investors approved by the seven IPAs for the third quarter of 2013 are expected to generate 39,314 jobs, an increase of 18.1 percent from last year’s projected employment of 33,295 jobs in the same period. Out of these anticipated jobs, 84.8 percent would come from projects with foreign interest (Part II – Tables 4a & 8a).

For the first nine months of the year, projected employment on approved investments reached 114,786 jobs, up by 13.2 percent from the 101,418 jobs expected in the same period a year ago (Part II – Table 8b).

Approved investments of foreign and Filipino nationals in Information and Communication Technology (ICT), Q3 and first nine months 2013

Investments in information and communication technology (ICT) proposed by foreign and Filipino nationals in Q3 2013 went up by 83.1 percent to PhP 5.7 billion from PhP 3.1 billion committed in the third quarter of 2012. Share of the projects in ICT stood at 3.0 percent of the total approved investments during the quarter. Foreign nationals remained as the major source of investment pledges in ICT, committing PhP 5.2 billion worth of investments or a share of 90.9 percent (Part II – Tables 5a and 9a).

Proposed investments in ICT for the first nine months of the year totaled PhP 13.9 billion, which is nearly twice the PhP 7.3 billion committed in the first nine months of 2012 (Part II – Table 9b).

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Part I – ANALYSIS

A. Approved foreign investments (FI)

A.1 Total approved FI A.1.1 Third Quarter 2013

FI applications received and approved in the third quarter of 2013 by the seven investment promotion agencies (IPAs), namely: Board of Investments (BOI), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA) as well as the Authority of the Freeport Area of Bataan (AFAB), BOI- Autonomous Region of Muslim Mindanao (BOI-ARMM), and Cagayan Economic Zone Authority (CEZA) amounted to PhP 33.1 billion, 86.6 percent higher than the PhP 17.7 billion recorded in the same period last year. Among the IPAs, PEZA gathered the biggest share at 85.6 percent of total foreign investments or PhP 28.3 billion, increasing by 181.1 percent from last year’s PhP 10.1 billion. Other IPAs registered increases in FI in Q3 2013 particularly CDC, CEZA and SBMA, growing by 341.0 percent, 339.0 percent, and 242.4 percent, respectively.

Meanwhile, pledges from BOI went down by 47.9 percent. (Table A and Part II – Table 1b).

Table A

Total Approved FI by Investment Promotion Agency (in million pesos)

Third Quarter, 2012 and 2013

Q3 2012 Q3 2013

AFAB - 108.7 0.3 - BOI 7,441.0 3,879.8 11.7 (47.9) BOI ARMM - - - - CDC 36.2 159.7 0.5 341.0 CEZA 10.50 46.1 0.1 339.0 PEZA 10,083.7 28,346.5 85.6 181.1 SBMA 162.5 556.5 1.7 242.4 Total 17,733.9 33,097.2 100.0 86.6

Agency Growth Rate

Q3 2012 - Q3 2013 Approved FI Percent to Total

Q3 2013

Source: AFAB, BOI, BOI-ARMM, CDC, CEZA, PEZA, SBMA

A.1.2 January to September 2013

Total approved FI for the first nine months of the year reached PhP 126.5 billion, an increase of 114.8 percent from last year’s PhP 58.9 billion. Bulk of total FI applications at 58.2 percent were coursed through PEZA with pledges amounting to PhP 73.6 billion. BOI came in second, contributing 40.3 percent or PhP 51.0 billion. AFAB, CDC, CEZA, and SBMA jointly accounted for 1.5 percent of the total FI in the first nine months of 2013.

Investment pledges from the BOI grew the fastest at 185.3 percent followed by PEZA, SBMA and CEZA at 92.9 percent, 67.7 percent and 48.0 percent, respectively. On the other hand, investment pledges from CDC and AFAB declined by 55.9 percent and 34.5 percent, respectively (Table B below and Part II – Table 1c).

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Table B

Total Approved FI by Investment Promotion Agency (in million pesos)

January to September, 2012 and 2013

AFAB 165.9 108.7 0.1 (34.5) BOI 17,863.2 50,970.1 40.3 185.3 BOI ARMM - - - -

CDC 2,173.3 959.3 0.8 (55.9) CEZA 108.7 161.0 0.1 48.0 PEZA 38,155.5 73,586.3 58.2 92.9 SBMA 435.6 730.5 0.6 67.7 Total 58,902.2 126,515.9 100.0 114.8

January to September Growth Rate

Jan-Sep 2012- Jan-Sep 2013 Percent to Total

Jan-Sep 2013

2012 2013

Agency

Source: AFAB, BOI, BOI-ARMM, CDC, CEZA, PEZA, SBMA

Figure 2 below shows the series of quarterly approved FI from Q1 1996 to Q3 2013.

Figure 2

Total Approved Foreign Investments (in billion pesos) First Quarter 1996 to Third Quarter 2013

Source: AFAB, BOI, BOI-ARMM, CDC, CEZA PEZA, SBMA

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A.2 Top performing countries A.2.1 Third Quarter 2013

British Virgin Islands led the list of top countries as it intended to pour in PhP 10.3 billion worth of investments, accounting for 31.1 percent of the total FI during the third quarter of 2013.

These investments are mostly intended to finance projects in electricity, gas, steam, and air conditioning supply and accommodation and food service activities. Joining British Virgin Islands as top sources of FI are Japan, with PhP 5.9 billion investment pledges or a share of 18.0 percent, and the Netherlands, cutting in 13.2 percent of the pie or PhP 4.4 billion.

Japan’s prospective ventures are mostly in manufacturing while Netherland’s projects are mostly in accommodation and food service activities and administrative and support service activities (Figure 3a below and Part II - Table 2a).

British Virgin Islands

31.1%

Japan 18.0%

Netherlands 13.2%

USA 9.3%

Singapore 8.6%

South Korea 7.8%

Others 11.9%

Figure 3a

Total Approved FI by Country of Investor Third Quarter 2013

Source: AFAB, BOI, BOI-ARMM, CDC, CEZA, PEZA, SBMA

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A.2.2 January to September 2013

For the first nine months, USA led all other countries, committing PhP 47.4 billion or 37.4 percent of the total FI applications, followed by the British Virgin Islands, sharing PhP 30.9 billion or 24.4 percent, and Japan cutting in PhP 15.4 billion or 12.2 percent share.

Investments from USA are mostly intended to finance projects in electricity, gas, steam, and air conditioning supply. Japan’s intentions are particular in manufacturing industry while projects from British Virgin Islands are focused on accommodation and food service activities.

Investment pledges from British Virgin Islands recorded the highest increase, rising from PhP 590.1 million last year to PhP 30.9 billion in 2013. Meanwhile, the FI application from the USA grew by 6 folds during the period but pledges from Japan declined by 15.0 percent (Figure 3b below and Part II – Table 2b).

USA 37.4%

British Virgin Islands

24.4%

Japan 12.2%

Netherlands 8.2%

South Korea 3.4%

Singapore 3.4%

Others 10.9%

Figure 3b

Total Approved FI by Country of Investor January to September 2013

Source: AFAB, BOI, BOI-ARMM, CDC, CEZA, PEZA, SBMA

A.3 Top performing industries A.3.1 Third Quarter 2013

The hefty investments worth PhP 11.2 billion intended to fund projects in manufacturing placed it at the top post, with a share of 33.9 percent. The amount is 68.5 percent higher compared to PhP 6.7 billion committed to the industry in Q3 2012 (Table C and Part II – Table 3a).

Following manufacturing are electricity, gas, steam, and air conditioning supply with investment commitments valued at PhP 9.5 billion, contributing 28.8 percent, and accommodation and food service activities at PhP 4.5 billion or 13.7 percent share. During the period, investments in electricity, gas, steam, and air conditioning supply and accommodation and food service activities increased by 95.7 percent and 4,027.2 percent, respectively, compared to their investments in 2012.

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Table C

Total Approved FI by Industry3 (in million pesos) Third Quarter, 2012 and 2013

Industry

A. Agriculture, forestry and fishing - 3.1 0.0 - B. Mining and quarrying 229.6 17.1 0.1 (92.5)

C. Manufacturing 6,665.3 11,231.7 33.9 68.5

D. Electricity, gas, steam and air conditioning supply

4,873.3

9,535.4 28.8 95.7

E. Water supply; sewerage, waste management and remediation activities

-

- - -

F. Construction 1,251.0 1.2 0.00 (99.9) G. Wholesale and retail trade;

repair of motor vehicles and motorcycles

131.1

221.2 0.7 68.7

H. Transportation and storage 538.3 1,218.4 3.7 126.3 I. Accommodation and food service

activities

110.0

4,539.9 13.7 4,027.2

J. Information and communication 125.8 765.6 2.3 508.5 K. Financial and insurance activities 18.6 10.4 0.0 (44.2) L. Real estate activities 1,581.9 591.2 1.8 (62.6) M. Professional, scientific and

technical activities

28.8

2.2 0.0 (92.2) N. Administrative and support

service activities

2,103.4

4,475.3 13.5 112.8

O. Public administration and defense; compulsory social security

56.9

- - -

P. Education - - - -

Q. Human health and social work activities

-

1.2 0.0 - R. Arts, entertainment and

recreation

-

478.9 1.4 - S. Other service activities 20.1 4.5 0.0 (77.3) Growth Rate

Q3 2012 - Q3 2013 Approved FI

Q3 2012 Q3 2013

Percent to Total Q3 2013

Source: AFAB, BOI, BOI-ARMM, CDC, CEZA, PEZA, SBMA

A.3.2 January to September 2013

The large amount of investment commitments poured into the electricity, gas, steam, and air conditioning supply industry in the first nine months of 2013 placed it at the top, receiving the highest pledges worth PhP 53.2 billion or 42.1 percent share of the total. Pledges in the said industry jumped from PhP 5.0 billion in the first nine months of 2012. Manufacturing came in second with investment commitments valued at PhP 25.8 billion or 20.4 percent share, followed by accommodation and food service activities at PhP 25.1 billion or 19.8 percent

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share. Proposed investments in accommodation and food service activities rose by almost 15 folds while FI for manufacturing decreased by 21.1 percent (Table D below and Part II – Table 3b).

Table D

Total Approved FI by Industry4 (in million pesos) January to September, 2012 and 2013

Industry

A. Agriculture, forestry and fishing 1,759.4 29.1 0.0 (98.3) B. Mining and quarrying 229.6 1,801.7 1.4 684.83

C. Manufacturing 32,743.8 25,845.7 20.4 (21.1)

D. Electricity, gas, steam and air conditioning supply

5,044.6

53,213.9 42.1 954.9

E. Water supply; sewerage, waste management and remediation activities

737.4

1.7 0.0 (99.8)

F. Construction 2,823.5 8.7 0.0 (99.7)

G. Wholesale and retail trade; repair of motor vehicles and motorcycles

197.8

291.1 0.2 47.2

H. Transportation and storage 3,045.2 2,380.8 1.9 (21.8) I. Accommodation and food service

activities

1,710.7

25,072.5 19.8 1,365.6

J. Information and communication 970.9 2,462.0 1.9 153.6 K. Financial and insurance activities 74.1 39.9 0.0 (46.1) L. Real estate activities 4,276.8 4,602.2 3.6 7.6 M. Professional, scientific and technical

activities

29.1

9.1 0.0 (68.9)

N. Administrative and support service activities

4,972.9

10,105.3 8.0 103.2

O. Public administration and defense;

compulsory social security

155.8

22.8 0.0 (85.4)

P. Education 89.8 11.8 0.0 (86.9)

Q. Human health and social work activities

-

1.2 0.0 - R. Arts, entertainment and recreation 4.5 574.9 0.5 12,779.9 S. Other service activities 36.4 41.4 0.0 13.8

Total 58,902.2 126,515.9 100.0 114.8

Growth Rate Jan-Sep 2012 -

Jan-Sep 2013 January to September

2012 2013

Percent to Total Jan-Sep 2013

Source: AFAB, BOI, BOI-ARMM, CDC, CEZA, PEZA, SBMA

A.4 Projected employment from approved FI A.4.1 Third Quarter 2013

FI projects approved by the seven IPAs in the third quarter of 2013 are seen to generate 33,321 jobs, increasing by 31.9 percent compared to 25,263 jobs expected in the same period last year (Part II – Table 4a).

PEZA-approved FI projects are expected to generate the most number of jobs at 25,549, accounting for 76.7 percent of the total for the quarter. BOI accounted for 4,043 jobs or 12.1

4 Starting Q1 2011 FDI report, the 2009 Philippine Standard Industrial Classification (PSIC) is adopted in classifying the industry. The 2009 PSIC was used for the years 2010 and 2011 to make the data comparable.

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percent share while AFAB and CDC had shares of 2,050 jobs or 6.2 percent and 1,034 jobs or 3.1 percent, respectively. SBMA and CEZA had minimal shares of 1.6 percent and 0.3 percent.

In terms of growth rates, all IPAs except BOI registered increases in job generation. SBMA topped the list with 356.4 percent increase, followed by CDC at 264.1 percent and PEZA at 28.5 percent.

A.4.2 January to September 2013

Projected employment from approved FI commitments during the first nine months of 2013 stood at 93,918 jobs from last year’s 79,745 jobs, up by 17.8 percent. FI projects approved by PEZA are expected to generate the most number of jobs at 76,312 or 81.3 percent of the total projected employment, followed by BOI with 10,715 jobs or 11.4 percent, CDC with 3,855 jobs or 4.1 percent, AFAB with 2,050 jobs, SBMA with 750 jobs and CEZA, 236 jobs (Part II - Table 4b).

Among the IPAs, only BOI and CEZA recorded decreases at 40.5 percent and 0.4 percent, respectively while the other IPAs registered increases in projected employment.

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B. Approved investments of foreign and Filipino nationals

B.1 Total approved investments of foreign and Filipino nationals B.1.1 Third Quarter 2013

Approved investments of Filipino and foreign nationals increased by 26.0 percent from PhP 150.3 billion registered in the third quarter of 2012 to PhP 189.4 billion in Q3 2013. Filipino nationals continued to dominate the investments approved during the quarter, supplying 82.5 percent or PhP 156.3 billion, higher by 17.9 percent from pledges committed a year ago.

Foreign nationals which grew by 86.6 percent, amounting to PhP 33.1 billion from PhP 17.7 billion in the previous year, accounts for 17.5 percent of the total investments (Figure 4 and Part II - Table 6a).

The bulk of the investment commitments of foreign and Filipino nationals for the quarter were coursed through the BOI and PEZA with a combined share of 99.1 percent. Approved investments coursed through the BOI amounted to PhP 131.8 billion, higher by 59.4 percent than PhP 82.7 billion approved a year ago. Placing second was PEZA with a share of 29.5 percent, which grew by 1.8 percent, from PhP 54.9 billion to PhP 55.9 billion. The other IPAs had minimal share each, with SBMA having PhP 914.0 million worth of pledges from PhP 362.8 million a year ago. Meanwhile, approved investments by CDC increased by almost five folds from PhP 50.1 million to PhP 248.3 million in Q3 2013. Investment pledges through CEZA also increased from PhP 355.0 milion to PhP 374.7 million (Part II - Table 5a).

17.7 33.1

132.6 156.3

- 20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0 180.0 200.0

Q3 2012 Q3 2013

in billion pesos

Figure 4a

Total Approved Investments of Foreign and Filipino Nationals

Third Quarter, 2012 and 2013 Filipino Foreign

58.9

126.5 308.7

329.2

- 50.0 100.0 150.0 200.0 250.0 300.0 350.0 400.0 450.0 500.0

Jan-Sep 2012 Jan-Sep 2013

in billion pesos

Figure 4b

Total Approved Investments of Foreign and Filipino Nationals

January to September, 2012 and 2013 Filipino Foreign

Source: AFAB, BOI, BOI-ARMM, CDC, CEZA, PEZA, SBMA

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B.1.2 January to September 2013

Investment commitments from both foreign and Filipino nationals amounted to PhP 455.7 billion during the first nine months of 2013, up by 24.0 percent from PhP 367.6 billion. Of the total approved investments, 72.2 percent came from Filipino investors with PhP 329.2 billion worth of pledges (Part II – Table 6b).

The bulk or 68.0 percent of the approved investments from January to September were coursed through BOI with PhP 309.7 billion, up by 24.8 percent from PhP 248.2 billion recorded a year ago. Investment commitments through PEZA, with 30.6 percent share totaled PhP 139.6 billion from PhP 98.5 billion last year or 41.7 percent increase. The other IPAs had collective pledges of PhP 6.4 billion from PhP 20.9 billion a year ago.

B.2 Total approved investments of foreign and Filipino nationals by industry B.2.1 Third Quarter 2013

Electricity, gas, steam and air conditioning supply topped the list of industries during the third quarter of 2013 as it stands to receive PhP 123.2 billion or 65.1 percent of the total investment pledges of foreign and Filipino nationals. Of this amount, PhP 9.5 billion would come from foreign investors (Figure 5a below and Part II - Tables 3a and 7a).

Investments in real estate activities ranked second as it accounted for 13.6 percent share or PhP 25.7 billion, followed by accommodation and food service activities, receiving 7.2 percent or PhP 13.6 billion (Figure 5a below and Part II – Table 7a).

Figure 5a

Total Approved Investments of Foreign and Filipino Nationals, by Industry Third Quarter 2013

D. Electricity, gas, steam and air conditioning supply

65.1%

L. Real estate activities

13.6%

I. Accommodation and food service activities

7.2%

C. Manufacturing 7.0%

H. Transportation and storage

2.8%

N. Administrative and support service

activities 2.4%

Others 1.9%

Source: AFAB, BOI, BOI-ARMM, CDC, CEZA, PEZA, SBMA

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B.2.2 January to September 2013

Topping the list of recipients of investment intentions from both foreign and Filipino nationals during the first nine months of 2013 are in the electricity, gas, steam and air conditioning supply industry in the amount of PhP 258.7 billion or 56.8 percent of total investments. Real estate activities came in second at PhP 89.0 billion or 19.5 percent share, followed by accommodation and food service activities at PhP 40.1 billion or 8.8 percent. Potential Investments in electricity, gas, steam and air conditioning supply increased by 70.3 percent, while real estate activities and accommodation and food service activities grew by 8.2 percent from PhP 82.3 billion and 217.7 percent from PhP 12.6 billion, respectively. (Figure 5b below and Part II – Table 7b).

Figure 5b

Total Approved Investments of Foreign and Filipino Nationals, by Industry January to September 2013

D. Electricity, gas, steam and air conditioning

supply 56.8%

L. Real estate activities

19.5%

I.

Accommodation and food service

activities 8.8%

C. Manufacturing 7.8%

H.

Transportation and storage

2.5%

N. Administrative and support service activities

2.4%

Others 2.2%

Source: AFAB, BOI, BOI-ARMM, CDC, CEZA, PEZA, SBMA

B.3 Projected employment from approved investments of foreign and Filipino nationals

B.3.1 Third Quarter 2013

Investments from foreign and Filipino nationals are seen to generate 39,314 jobs, representing 18.1 percent increase from the 33,295 potential jobs recorded in the third quarter of 2012. Projects registered through PEZA posted the highest expected employment at 26,538 jobs, contributing 67.5 percent of the total expected employment for the period. BOI- approved projects recorded 8,058 potential jobs, with a share of 20.5 percent. Approved investments from AFAB and CDC had 2,280 and 1,173 potential jobs, respectively while investments from the other three IPAs are expected to generate 1,265 jobs (Part II – Table 8a).

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B.3.2 January to September 2013

For the first nine months of 2013, a total of 114,786 jobs are expected to be generated from approved investments of foreign and Filipino nationals. A little more than two thirds (68.1 percent) or 78,117 jobs would come from investment pledges coursed through PEZA, followed by BOI with 27,025 jobs which represents 23.5 percent of the total projected employment. The other IPAs would only have a combined share of 8.4 percent or 9,644 jobs (Part II – Table 8b).

PEZA, CDC, AFAB, and BOI-ARMM registered increases in the number of potential jobs expected from foreign and Filipino ventures during the period while the rest of the IPAs exhibited declines in the projected employment.

B.4 Projected employment from approved investments of foreign and Filipino nationals by industry

B.4.1 Third Quarter 2013

In terms of projected employment by industry, the manufacturing sector is expected to have the most number of jobs to be generated at 15,537 jobs in the third quarter of 2013, increasing by 26.3 percent from last year’s employment. Second is administrative and support service activities which is expected to generate 13,295 jobs but lower by 3.8 percent compared to third quarter of 2012. Next is real estate activities which is expected to generate 4,923 jobs.

(Table E below).

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Table E

Projected Employment from Approved Investments by Industry Third Quarter, 2012 and 2013

A. Agriculture, forestry and fishing - - - B. Mining and quarrying 989 40 0.1 (96.0)

C. Manufacturing 12,299 15,537 39.5 26.3

D. Electricity, gas, steam and air conditioning supply

509

705 1.8 38.5 E. Water supply; sewerage, waste

management and remediation activities

62

27 0.1 (56.5) F. Construction 71 55 0.1 (22.5) G. Wholesale and retail trade; repair of

motor vehicles and motorcycles

218

485 1.2 122.5 H. Transportation and storage 1,347 864 2.2 (35.9) I. Accommodation and food service

activities

538

1,339 3.4 148.9 J. Information and communication 1,653 1,765 4.5 6.8 K. Financial and insurance activities 2 27 0.1 1,250.0 L. Real estate activities 1,494 4,923 12.5 229.5 M. Professional, scientific and technical

activities

95

9 0.0 (90.5) N. Administrative and support service

activities

13,817

13,295 33.8 (3.8) O. Public administration and defense;

compulsory social security

2

- - P. Education - - - - Q. Human health and social work

activities

6

0.0 - R. Arts, entertainment and recreation 10 170 0.4 1,600.0 S. Other service activities 189 67 0.2 (64.6)

Total 33,295 39,314 100.0 18.1 Q3 2013

Percent to Total Q3 2013

Growth Rate Q3 2012 - Q3 2013 Industry Classification Q3 2012

Source: AFAB, BOI, BOI-ARMM, CDC, CEZA, PEZA, SBMA

B.4.2 January to September 2013

Of the 114,786 projected jobs in the first nine months of 2013 from prospective ventures of foreign and Filipino investors, manufacturing (45,175 jobs); administrative and support service activities (32,590 jobs); and real estate activities (15,384 jobs) are foreseen to supply the bulk of projected employment with shares of 39.4 percent, 28.4 percent, and 13.4 percent, respectively. The rest of the potential jobs totaling 21,637 or 18.8 percent are expected to be provided by the other industries, such as agriculture, forestry and fishing; mining and quarrying; electricity, gas, steam and air conditioning supply; water supply, sewerage, waste management and remediation activities; construction; wholesale and retail trade and repair of motor vehicles and motorcycles; transportation and storage; accommodation and food service; information and communication; financial and insurance activities; professional, scientific and technical activities; public administration and defense and compulsory social security; education; human health and social work activities; arts, entertainment and recreation; and other service activities (Table F below).

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Table F

Projected Employment from Approved Investments by Industry January to September, 2012 and 2013

A. Agriculture, forestry and fishing 1,124 1,598 1.4 42.2 B. Mining and quarrying 1,024 847 0.7 (17.3)

C. Manufacturing 42,327 45,175 39.4 6.7

D. Electricity, gas, steam and air conditioning supply

1,208

2,051 1.8 69.8 E. Water supply; sewerage, waste

management and remediation activities

831

45 0.0 (94.6)

F. Construction 1,031 75 0.1 (92.7) G. Wholesale and retail trade; repair of

motor vehicles and motorcycles

777

836 0.7 7.6 H. Transportation and storage 3,219 3,708 3.2 15.2 I. Accommodation and food service

activities

2,697

5,451 4.7 102.1 J. Information and communication 6,122 6,112 5.3 (0.2) K. Financial and insurance activities 10 72 0.1 620.0 L. Real estate activities 14,182 15,384 13.4 8.5 M. Professional, scientific and technical

activities

130

137 0.1 5.4 N. Administrative and support service

activities

26,217

32,590 28.4 24.3 O. Public administration and defense;

compulsory social security

2

- - - P. Education 131 98 0.1 (25.2) Q. Human health and social work

activities

24

156 0.1 550.0 R. Arts, entertainment and recreation 78 242 0.2 210.3 S. Other service activities 284 209 0.2 (26.4)

Total 101,418 114,786 100.0 13.2

Industry Classification Jan-Sep 2012

Jan-Sep 2013

Percent to Total Jan-Sep 2013

Growth Rate Jan-Sep 2012 -

Jan-Sep 2013

Source: AFAB, BOI, BOI-ARMM, CDC, CEZA, PEZA, SBMA

C. Approved investments in the Information and Communications Technology (ICT) Industry

C.1 Total approved FI in ICT C.1.1 Third Quarter 2013

Approved investments in the ICT in the third quarter of 2013 amounted to PhP 5.2 billion or an increase of 132.2 percent compared to the previous year. It represents 15.7 percent of the total investment pledges during the period. PEZA, which consistently receives the bulk of investment pledges in ICT, with a share of 99.3 percent during the period, registered an increase of 136.4 percent to PhP 5.2 billion from PhP 2.2 billion in the previous year. The other IPAs with foreign investments in ICT exhibited increases over the previous year with the

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