Approved foreign investments increased by 31.2 percent to P245.2 billion in 2015, the government reported on Tuesday, boosted by a 44.6-percent surge in the last three months of the year.
The pledges were registered with the Board of Investments, Clark Development Corp., Philippine Economic Zone Authority, Subic Bay Metropolitan Authority, Freeport Area of Bataan, Board of Investments-Autonomous Region of Muslim Mindanao and the Cagayan Economic Zone Authority.
In 2014, approved foreign investments totaled P187 billion, the Philippine Statistics Authority (PSA) noted.
In the fourth quarter of 2015 alone, investment pledges climbed by 45.6 percent to P138.6 billion from P95.2 billion, with most going to the manufacturing sector that accounted for a 69.1 percent share or P95.8 billion.
Following was the electricity, gas, steam, and air conditioning supply segment that took 13.1 percent or P18.1, and administrative and support service activities with a 10.3-percent or P14.3-billion share.
Most investments were directed to projects in Region 4-A or Calabarzon, which accounted for 37.5 percent or P52 billion. Next was the Cordillera Administrative Region (19 percent or P26.3 billion) and the National Capital Region (15.4 percent or P21.4 billion).
The top three sources of approved foreign investments in the fourth quarter were Japan, the Netherlands, and the United States.
Japanese pledges reached P39.4 billion, taking up a 28.5 percent share, while the Netherlands and the US accounted for 26.7 percent and 11.9 percent, respectively.
Combined with local pledges, the PSA said total approved investments in the rose by 43.7 percent to P332.3 billion in the fourth quarter. More than half or 58.3 percent was contributed by Filipino investors, amounting to P193.7 billion.
Electricity, gas, steam and air conditioning supply sector logged the highest share with 45.8 percent, equivalent to P152.3 billion.
The PSA said promised investments from both Filipino and foreign investors during the last three months of 2015 were expected to generate a total of 38,906 jobs, 36.7 percent down from the comparable 2014 period.
About 79.1 percent of the expected jobs will come from foreign-led investments.