The National Statistical Coordination Board (NSCB) said that approved foreign direct investments (FDIs) in the country amounted to P4 billion in the first half of the year.
Of the investment promotion agencies (IPAs), the Philippine Economic Zone Authority (PEZA) attracted more investors contributing 70.4 percent. The Board of Investment (BOI) approved investment pledges with 22.2 percent share valued at P4.3 billion. The Clark Development Corporation (CDC), received and approved FDI projects valued at P 62.6 million. While the Subic Bay Metropolitan Authority’s (SBMA) FDI approval went down by 94.6 percent from P782.7 million to P42.4 million.
The NSCB said a total of 19,596 jobs are expected to be generated from the FDI projects approved by the four investment promotion agencies in the first quarter of 2009, down by 29.5 percent from the 27,779 jobs in the same period in 2008.
While, the combined foreign and Filipino projects approved by the IPAs are seen to generate 26,106 jobs, 36.9 percent lower than 41,390 jobs projected in the first quarter of 2008. (PNA)
