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Foreign Investment, First Quarter 2021 The Foreign Investments in the is a quarterly publication prepared by the Macroeconomic Accounts Service of the PHILIPPINE STATISTICS AUTHORITY (PSA). For technical inquiries, please contact us at: (632) 8376-1954 or email us at [email protected].

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ISSN 1655-8928

Published by the Philippine Statistics Authority Cyberpod Centris Three, EDSA Cor. Quezon Avenue, Philippines

03 June 2021

The Foreign Investments in the Philippines is available in printed and electronic formats (Excel/Word/PDF in CDRom). Back issues of this publication are available for purchase. For details, please contact us at (632) 8462-6600 loc 820 or at [email protected]. TABLE OF CONTENTS PAGE

Foreword

Summary 1-2

Analysis 3-13

Technical Notes 14-21

Tables 22-33

Table 1A Total Approved Foreign Investments by Investment Promotion 24-26 Agency: First Quarter 1996 to First Quarter 2021, in million pesos

Table 1B Total Approved Foreign Investments by Investment Promotion 27 Agency: First Quarter 2020 to First Quarter 2021, in million pesos

Table 2 Total Approved Foreign Investments by Country of Investor: 27 First Quarter 2020 to First Quarter 2021, in million pesos

Table 3 Total Approved Foreign Investments by Industry: First Quarter 28 2020 to First Quarter 2021, in million pesos

Table 4 Total Approved Foreign Investments by Region: First Quarter 28 2020 to First Quarter 2021, in million pesos

Table 5 Projected Employment from Approved Projects with Foreign 29 Interest: First Quarter 2020 to First Quarter 2021

Table 6 Total Approved Investments of Foreign and Filipino Nationals by 29 Investment Promotion Agency: First Quarter 2020 to First Quarter 2021, in million pesos

Table 7 Total Approved Investments by Nationality (Filipino and Foreign) 30 and by Investment Promotion Agency: First Quarter 2020 to First Quarter 2021, in million pesos

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Table 8 Total Approved Investments of Foreign and Filipino Nationals by 30 Industry: First Quarter 2020 to First Quarter 2021, in million pesos

Table 9 Total Approved Investments of Foreign and Filipino Nationals by 31 Region: First Quarter 2020 to First Quarter 2021, in million pesos

Table 10 Projected Employment from Approved Investments of Foreign 31 and Filipino Nationals: First Quarter 2020 to First Quarter 2021

Table 11 Projected Employment from Approved Investments of Foreign 31 and Filipino Nationals by Industry: First Quarter 2020 to First Quarter 2021

Table 12 Total Approved Foreign and Filipino Investments in the 32 Information and Communications Technology (ICT) Industry by Investment Promotion Agency: First Quarter 2020 to First Quarter 2021, in million pesos

Table 13 Total Approved Foreign Investments in the Information and 32 Communication Technology (ICT) and Non- ICT Industry by Investment Promotion Agency: First Quarter 2020 to First Quarter 2021, in million pesos

Table 14 Total Approved Foreign and Filipino Investments in the 33 Information and Communications Technology (ICT) by Sub-Industry: First Quarter 2020 to First Quarter 2021, in million pesos

Table 15 Projected Employment from Approved Foreign and Filipino 33 Investments in the Information and Communications Technology (ICT) by Sub-Industry: First Quarter 2020 to First Quarter 2021

FOREWORD

The Foreign Investments (FI) Report is one of the statistical reports maintained by the Philippine Statistics Authority (PSA). The first quarter report contains 16 tables which are updated and released every June of the current year. It integrates the first quarter statistical reports on approved investments submitted by government agencies working on investment promotion, administration, and regulation.

It provides an analysis on investments of foreign and Filipino nationals approved by the seven investment promotion agencies (IPAs), namely: Board of Investments (BOI), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA), Subic Bay Metropolitan Authority (SBMA), Authority of the Freeport Area of (AFAB), BOI-Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM), and Cagayan Economic Zone Authority (CEZA).

The FI report differs from the Foreign Direct Investment (FDI) Report, which is being released by the Bangko Sentral ng Pilipinas (BSP) monthly. The FDI are actual investments reported in the Balance of Payments (BOP). On the other hand, Approved Foreign Investment (AFI) does not represent actual investments generated but rather foreign investment commitments which may come in the near future.

The FI Report hopes to cover more investment promotion agencies to support the information needs of our data users. We encourage the readers to give their comments and suggestions for the improvement of this report.

DENNIS S. MAPA, Ph.D. Undersecretary National Statistician and Civil Registrar General

Quezon City, Philippines June 2021 Approved Foreign Investments, First Quarter 2021

Approved Foreign Investments in the Philippines First Quarter 2021

Summary

Total Approved Foreign Investments (FI)1, First Quarter 2021

Total foreign investments (FI) approved in the first quarter of 2021 by six investment promotion agencies (IPAs), namely: Board of Investments (BOI), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA), Authority of the Freeport Area of Bataan (AFAB), and Cagayan Economic Zone Authority (CEZA) amounted to PhP 19.55 billion. This is lower by -32.9 percent compared with the FI reported in the same period in 2020 amounting to PhP 29.14 billion. No investment approvals were reported from BOI- Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM) for the reference quarters.

The top three prospective investing countries for the first quarter of 2021 were Japan, Cayman Islands, and South Korea. Investments from Japan reached PhP 10.72 billion, which accounted for 54.8 percent of the total FI for the quarter. Meanwhile, pledges from Cayman Islands and South Korea reached PhP 1.14 billion and PhP 592.63 million, or 5.8 percent and 3.0 percent of the total approved FI, respectively.

Manufacturing would receive the largest amount of foreign investments approved in the first quarter of 2021. Foreign pledges for this industry were valued at PhP 11.14 billion or 57.0 percent of the total FI. Information and Communication ranked second with investment pledges valued at PhP 4.58 billion or 23.4 percent. Real Estate Activities ranked third with PhP 2.24 billion or 11.5 percent of the total FI.

About this report Inside This report is the 96th of a series on quarterly statistics on approved foreign investments (FI) in the Philippines, integrating Part I - Analysis the quarterly statistical reports on FI submitted by the government’s investments promotion, administration and A. Approved foreign regulation agencies. investments (FI)….………..……….... 3 to 7

It provides an analysis on Foreign Investments (FI) and B. Approved investments of foreign investments by approved by the Board of Investments and Filipino nationals…………..…. 7 to 12 (BOI), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA), Subic Bay Metropolitan C. Approved investments in the Authority (SBMA), Authority of the Freeport Area of Bataan Information and Communications (AFAB), BOI-Bangsamoro Autonomous Region in Muslim Technology (ICT) Mindanao (BOI-BARMM), and Cagayan Economic Zone Industry………………..…………… 12 to 13 Authority (CEZA). Part II – Technical Notes Approved foreign investments represent investment commitments and pledges by foreigners regardless of the Part III – Statistical Tables percentage of ownership of the ordinary shares, which may be realized in the near future.

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. (See Annex A – Technical Notes) 1 Approved Foreign Investments, First Quarter 2021

Across the regions, Region IVA - CALABARZON is set to receive the largest amount of foreign investments at PhP 7.54 billion or 38.6 percent to the total FI. Meanwhile, Region VII - Central Visayas and the National Capital Region (NCR) would receive the second and third largest amount, respectively. The FI intended for Region VII reached PhP 2.73 billion or 14.0 percent. Meanwhile, FI for NCR reached PhP 1.74 billion or 8.9 percent of the total FI.

Approved Investments of Foreign and Filipino Nationals, First Quarter 2021

Approved investments of foreign and Filipino nationals reached PhP 165.16 billion in the first quarter of 2021, higher by 42.5 percent compared with the PhP 115.89 billion in the same period of the previous year. Investments from Filipino nationals amounted to PhP 145.61 billion or 88.2 percent of the total investments for the period.

Among the industries, Electricity, Gas, Steam and Airconditioning Supply would receive the largest amount of investments at PhP 122.45 billion. This represents 74.1 percent of the total approved investments for the quarter.

Across the regions, Region III- is set to receive the largest amount of investment pledges at PhP 80.08 billion. Investments in Region III accounts for almost half (48.5%) of the total approved investments for the period.

Projected Employment from Approved Investments of Foreign and Filipino Nationals, First Quarter 2021

Approved investments of foreign and Filipino nationals in the first quarter of 2021 are expected to generate 23,472 jobs, lower by -35.0 percent compared with the previous year’s projected employment of 36,130. Out of these total anticipated jobs, 78.5 percent would be absorbed by projects with foreign interest. Among industries, Manufacturing is expected to produce the greatest number of jobs during the quarter as the industry is expected to generate 9,514 jobs.

Approved Investments of Foreign and Filipino Nationals in Information and Communications Technology (ICT), First Quarter 2021

The first quarter 2021 proposed investments by foreign and Filipino nationals in Information and Communications Technology (ICT) amounted to PhP 5.52 billion. This is higher by 54.2 percent compared with the PhP 3.58 billion committed in the same quarter of the previous year. Foreign nationals were the major source of investment pledges in ICT, committing PhP 5.36 billion worth of investments or a share of 96.9 percent of the total ICT investments.

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Approved Foreign Investments, First Quarter 2021

Part I – ANALYSIS

A. Approved Foreign Investments (FI)

A.1 Total Approved FI, Q1 2021

Total FI applications approved in the first quarter of 2021 by BOI, CDC, PEZA, SBMA, AFAB, and CEZA amounted to PhP 19.55 billion. This was lower by -32.9 percent compared with PhP 29.14 billion recorded in the same period of the previous year.

FIGURE 1 Total Approved Foreign Investments for the First Quarter: 2020 and 2021

29.14

19.55 in billion PhP billionin

Q1 2020 Q1 2021

Sources of data: AFAB, BOI, CDC, CEZA, PEZA, and SBMA

Among IPAs, PEZA and BOI accounted for the majority of the FI pledges in the first quarter of 2021. Investment pledges from PEZA accounted for PhP 12.19 billion or 62.3 percent of the total FI. However, this was slightly lower by -1.0 percent from a record of PhP 12.32 billion in the same period of the previous year. BOI-approved pledges amounting to PhP 6.84 billion posted a decline of -48.8 percent from PhP 13.36 billion in the same period of the previous year. (Figure 1 and Table 1B).

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Approved Foreign Investments, First Quarter 2021

Figure 2 shows the series of quarterly approved FI from Q1 2011 to Q1 2021.

250.0 FIGURE 2 Total Approved Foreign Investments: First Quarter 2011 - First Quarter 2021

200.0

150.0

in billion PhP inbillion 100.0

50.0

- Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Year and Quarter

Sources of data: AFAB, BOI, CDC, CEZA, PEZA, and SBMA

A.2 Top Prospective Investing Countries, Q1 2021

For the first quarter of 2021, the top prospective investing countries were the Japan, Cayman Islands, and South Korea. Japan topped the list committing PhP 10.72 billion or 54.8 percent of the total FI approvals for the quarter. This was higher by 741.0 percent from its PhP 1.27 billion approved investments in the same period of the previous year.

Cayman Islands and South Korea accounted for 5.8 percent and 3.0 percent of the total FI pledges, respectively. Pledges from the Cayman Islands amounted to PhP 1.14 billion. This amount was higher by 165.3 percent from the PhP 428.49 million recorded in the same period of the previous year. Meanwhile, pledges from South Korea reached PhP 592.63 million. This amount was lower by -72.2 percent compared with the PhP 2.13 billion approved in the same period of the previous year (Figure 3 and Table 2).

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Approved Foreign Investments, First Quarter 2021

FIGURE 3 Percent Share of the Total Approved Foreign Investments by Country of Investor: First Quarter 2021 Others 27.3%

Japan 54.8% Taiwan 0.9%

USA 1.6%

China (PROC) 2.0%

Germany 2.1% UK 2.4% South Korea 3.0% Cayman Islands 5.8%

Note: Percentages do not add up to 100 due to rounding off.

Sources of data: AFAB, BOI, CDC, CEZA, PEZA, and SBMA

A.3 Top Industries for Approved Foreign Investments, Q1 2021

The bulk of approved foreign investments in the first quarter of 2021 were intended to fund projects in the Manufacturing industry. FI committed to the industry was valued at PhP 11.14 billion, higher by 11.9 percent compared with PhP 9.95 billion in the same period of the previous year. Projects in Information and Communication industry would receive the second largest amount of foreign investments at PhP 4.58 billion, accounting for the 23.4 percent of the total approved FI. Meanwhile, Real Estate Activities was set to receive PhP 2.24 billion or 11.5 percent of the total approved FI (Figure 4 and Table 3).

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Approved Foreign Investments, First Quarter 2021

FIGURE 4 Percent Share of the Total Approved Foreign Investments by Industry: First Quarter 2021

D. Electricity, gas, steam Others and air conditioning supply 1.5% 2.8% N. Administrative and support service activities 3.9% C. Manufacturing 57.0%

L. Real estate activities 11.5%

J. Information and communication 23.4%

Note: Percentages do not add up to 100 due to rounding off.

Sources of data: AFAB, BOI, CDC, CEZA, PEZA, and SBMA

A.4 Total Approved FI by Region, Q1 2021

The bulk of approved FI in the first quarter of 2021 would be intended to finance projects located in Region IVA – CALABARZON. This region was set to receive PhP 7.54 billion worth of investments from foreign nationals. It represented 38.6 percent of the total approved FI for the quarter. Region VII – Central Visayas was set to receive the second largest amount of pledges for the quarter at PhP 2.73 billion or 14.0 percent share. Meanwhile, National Capital Region (NCR) would receive the third largest amount of foreign pledges at PhP 1.74 billion or 8.9 percent of the total FI (Figure 5 and Table 4).

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Approved Foreign Investments, First Quarter 2021

FIGURE 5 Percent Share of the Total Approved Foreign Investments by Region: First Quarter 2021

Others IVA - CALABARZON 29.3% 38.6%

III - Central Luzon 3.4%

XIII - Caraga 5.8%

NCR - National VII - Central Visayas Capital Region 14.0% 8.9%

Note: Percentages do not add up to 100 due to rounding off.

Sources of data: AFAB, BOI, CDC, CEZA, PEZA, and SBMA

A.5 Projected Employment from Approved FI, Q1 2021 Approved FI projects by AFAB, BOI, CDC, CEZA, PEZA and SBMA were projected to generate 18,416 jobs in the first quarter of 2021. This was lower by -43.2 percent compared with the 32,395 projected jobs in the same period of the previous year. The BOI-approved FI projects were projected to generate 9,276 jobs or 50.4 percent share. Meanwhile, PEZA-approved FI projects followed with 7,560 jobs projected to be generated or 41.1 percent share. The other IPAs jointly accounted for 8.5 percent share in terms of job generation (Table 5).

B. Approved Investments of Foreign and Filipino Nationals

B.1 Total Approved Investments of Foreign and Filipino Nationals, Q1 2021

Approved investments of foreign and Filipino nationals amounted to PhP 165.16 billion in the first quarter of 2021. This was higher by 42.5 percent compared with the PhP 115.89 billion approved in the first quarter of 2020. Filipino nationals accounted for most of the approved investments supplying PhP 145.61 billion or 88.2 percent of the total approved investments of foreign and Filipino nationals (Figure 6 and Table 7).

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Approved Foreign Investments, First Quarter 2021

The bulk of the investment commitments were coursed through the BOI. Investments approved by BOI reached PhP 138.08 billion, accounting for 83.6 percent of the total investments in the first quarter of 2021. Total investments from BOI, were higher by 65.6 percent compared with the PhP 83.37 billion approved in the same period of the previous year.

Meanwhile, investment pledges coursed through PEZA amounted to PhP 25.38 billion, representing 15.4 percent of the total investments for Q1 2021. PEZA-approved pledges were higher by 53.9 percent compared with PhP 16.50 billion in the same period of the previous year (Table 6).

FIGURE 6 Total Approved Foreign and Filipino Investments for the First Quarter: 2020 and 2021

Filipino 145.61 Foreign

in billion PhP billionin 86.75

29.14 19.55

Q1 2020 Q1 2021

Sources of data: AFAB, BOI, CDC, CEZA, PEZA, and SBMA

B.2 Total Approved Investments of Foreign and Filipino Nationals by Industry, Q1 2021

In the first quarter of 2021, investments intended to finance projects in Electricity, Gas, Steam and Air Conditioning Supply reached PhP 122.45 billion or 74.1 percent of the total investment pledges approved in the first quarter of 2021. Investments in Real Estate Activities ranked second with PhP 19.39 billion or 11.7 percent of the total approved investments. This was followed by Manufacturing with PhP 12.75 billion or 7.7 percent share (Figure 7 and Table 8).

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Approved Foreign Investments, First Quarter 2021

FIGURE 7 Percent Share of the Total Approved Foreign and Filipino Investments by Industry: First Quarter 2021

I. Accommodation and Food Others Service Activities 2.3% 1.3% J. Information and Communication 2.8%

C. Manufacturing 7.7%

L. Real Estate Activities 11.7%

D. Electricity, Gas, Steam and Air Conditioning Supply 74.1%

Note: Percentages do not add up to 100 due to rounding off.

Sources of data: AFAB, BOI, CDC, CEZA, PEZA, and SBMA

B.3 Total Approved Investments of Foreign and Filipino Nationals by Region, Q1 2021

The majority of the total approved investments of foreign and Filipino nationals in the first quarter of 2021 were intended to finance projects in Region III - Central Luzon. Investment pledges for Central Luzon amounted to PhP 80.08 billion or 48.5 percent of the total investments approved during the quarter. CAR – Cordillera Administrative Region would receive the second largest amount of investments, with pledges valued at PhP 35.88 billion or 21.7 percent of the total approvals. Meanwhile, Region IVA – CALABARZON would receive the third largest amount of investment commitments at PhP 11.75 billion or 7.1 percent share (Figure 8 and Table 9).

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Approved Foreign Investments, First Quarter 2021

FIGURE 8 Percent Share of the Total Approved Foreign and Filipino Investments by Region: First Quarter 2021

Others 11.3%

VII - Central Visayas 5.5% III - Central Luzon 48.5%

V - Bicol Region 5.9%

IVA - CALABARZON 7.1%

CAR - Cordillera Administrative Region 21.7%

Note: Percentages do not add up to 100 due to rounding off.

Sources of data: AFAB, BOI, CDC, CEZA, PEZA, and SBMA

B.4 Projected Employment from Approved Investments of Foreign and Filipino Nationals, Q1 2021

Projects of foreign and Filipino investors for the first quarter of 2021 are expected to generate 23,472 jobs, lower by -35.0 percent compared with 36,130 expected jobs in the same period of the previous year. Out of these anticipated jobs, 78.5 percent would come from projects with foreign interest.

Projects approved by BOI posted the largest number of prospective employments at 12,496 or 53.2 percent of the total expected jobs for the period. The PEZA-approved projects are expected to absorb 8,531 potential jobs or 36.3 percent share. It is -59.7 percent lower than the 21,174 expected jobs in the same period of the previous year.

The investments from AFAB, CDC, CEZA, and SBMA were expected to jointly generate 2,445 jobs. This comprised 10.4 percent of the total projected employment for the period (Figure 9 and Table 10).

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Approved Foreign Investments, First Quarter 2021

FIGURE 9 Projected Employment for the First Quarter: 2020 and 2021

on Total Approved Investments of Foreign and Filipino Nationals on Total Approved Investments with Foreign Interest

36,130 32,395

23,472

18,416

Q1 2020 Q1 2021

Sources of data: AFAB, BOI, CDC, CEZA, PEZA, and SBMA

B.5 Projected Employment from Approved Investments of Foreign and Filipino Nationals by Industry, Q1 2021

Of all the industries, investments in the Manufacturing are expected to generate the most number of jobs. The industry is expected to absorb 9,514 jobs or 40.5 percent of the projected jobs from investments approved in the first quarter of 2021. Administrative and Support Service Activities is expected to generate 3,713 jobs or 15.8 percent of the total projected employment. Investments for the Real Estate Activities are expected to generate 3,147 jobs (Figure 10 and Table 11).

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Approved Foreign Investments, First Quarter 2021

FIGURE 10 Percent Share of the Projected Employment from Approved Investments of Foreign and Filipino Nationals by Industry: First Quarter 2021

Others G. Wholesale and Retail Trade; 9.4% Repair of Motor Vehicles and Motorcycles 8.1% C. Manufacturing 40.5%

J. Information and Communication 12.7%

L. Real Estate Activities N. Administrative and 13.4% Support Service Activities 15.8%

Note: Percentages do not add up to 100 due to rounding off.

Sources of data: AFAB, BOI, CDC, CEZA, PEZA, and SBMA

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

C.1 Total Approved Foreign Investments in ICT

Approved foreign investments in the ICT for the first quarter of 2021 amounted to PhP 5.36 billion, higher by 73.9 percent as compared with the PhP 3.08 billion recorded in the same period of the previous year. FI in ICT represents 27.4 percent of the total foreign investment pledges during the reference period. The bulk of the investment pledges in ICT were coursed through BOI. ICT investments approved by BOI for the quarter amounted to PhP 4.71 billion or 87.9 percent of the total FI in ICT (Table 13).

C.2 Total Approved Investments in ICT of Foreign and Filipino Nationals

Investments pledges in ICT by foreign and Filipino nationals for the first quarter of 2021 amounted to PhP 5.52 billion. This was higher by 54.2 percent as compared with PhP 3.58 billion recorded in the same period of the previous year. Foreign nationals were the major source of investment pledges in ICT, accounting for 96.9 percent of the total ICT investments for the quarter. Meanwhile, Filipino investments accounted for PhP 168.50 million or 3.1 percent share (Table A and Table 12).

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Approved Foreign Investments, First Quarter 2021

Table A Total Approved Investments in ICT by Foreign and Filipino Nationals First Quarter, 2020 and 2021 (in million PhP)

Share to Growth Rate (%) Nationality Q1 2020 Q1 2021 Total (%) Q1 2020 - Q1 2021 Q1 2021 Filipino 502.3 168.5 3.1 -66.5 Foreign 3,078.9 5,355.1 96.9 73.9 Total 3,581.1 5,523.6 100.0 54.2

Sources of data: AFAB, BOI, CDC, CEZA, PEZA, and SBMA

C.3 Total Approved Investments in ICT of Foreign and Filipino Nationals by ICT Sub-industry

For the first quarter of 2021, the Information and Communication sub-industry would receive the highest investment intentions in ICT by foreign and Filipino nationals. Investments intended for Information and Communication amounted to PhP 4.70 billion or 85.0 percent of the total ICT projects. IT services sub-industry accounted for PhP 826.90 million or 15.0 percent of the total ICT projects (Table 14).

C.4 Projected Employment from Approved Investments in ICT of Foreign and Filipino Nationals by ICT Sub-industry

Approved investments of foreign and Filipino nationals in ICT are anticipated to create 6,709 jobs in the first quarter of 2021. This is higher by 0.4 percent compared with 6,684 expected jobs in the same period of the previous year. IT Services sub-industry are expected to supply 3,723 jobs or 55.5 percent of total employment in ICT, while Information and Communication sub-industry with 2,986 jobs or 44.5 percent share (Tables B and 15). Table B Projected Employment from Approved Investments of Foreign and Filipino Nationals in ICT by Sub-industry First Quarter, 2020 and 2021

Share to Growth Rate (%) Sub-industry Q1 2020 Q1 2021 Total (%) Q1 2020 - Q1 2021 Q1 2021

Information and 212 2,986 44.5 ** Communication IT Services 6,472 3,723 55.5 -42.5 Manufacturing - - - - Trade - - - - Total 6,684 6,709 100.0 0.4 **Growth rates greater than 1,000 Dash (-) is equivalent to zero

Sources of data: AFAB, BOI, CDC, CEZA, PEZA, and SBMA 13

Part II Technical Notes

Approved Foreign Investments, First Quarter 2021

TECHNICAL NOTES

Approved Foreign Investments

I. The Introduction

The Foreign Investments Information System (FIIS) started in 1991 as a project1 to develop an integrated approach for generating and reporting foreign direct investments (FDI) in the Philippines.

Starting with the Third Quarter 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 clearly distinguish the approved foreign investments which are only commitments and pledges from the Foreign Direct Investments (FDI), which are actual investments being released in the Balance of Payments (BOP) by the Bangko Sentral ng Pilipinas (BSP).

The Philippine Statistics Authority (PSA) is the agency tasked to compile the statistics on Foreign Investments (FI). This started in 2014 as stipulated under Republic Act No. 10625 or the Philippine Statistical Act of 2013.

Sources:

(1) Organisation for Economic Co-Operation and Development. (2001). Measuring Productivity. Measurement of Aggregate and Industry-Level Productivity Growth.

(2) Organisation for Economic Co-Operation and Development. (2008). Benchmark Definition of Foreign Direct Investment.

(3) International Monetary Fund. (2009). Balance of Payment and International Investment Position Manual Sixth Edition (BPM6).

II. The Foreign Investments Information System

II.1. Statistics on Foreign Investments (FIs)

Statistics on FDIs are being reported/generated by a number of agencies that carry out functions relating to management and monitoring of and/or promotion for attracting foreign investments in the country, which has often resulted in inconsistent data generation and interpretation because of differences in concepts, definitions and reporting periods adopted by the concerned agencies.

With the objective of resolving this problem and other issues in the generation and reporting of foreign investment statistics, the National Statistical Coordination Board

1Initial funding came from cooperating agencies, i.e., NSCB, BOI, BSP, SEC, and BTRCP. USAID funded the project starting in 1993.

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Approved Foreign Investments, First Quarter 2021

(NSCB) created an ad hoc Inter-Agency Group (IAG) in 1991 to conduct a study for the implementation of the FIIS.

The IAG published its First Report of the FIIS Study in July 1996 based on available annual administrative data for 1991 and 1992. The report also recommended a system that will operationalize the concepts and methodologies for developing and compiling foreign direct investment statistics in the Philippines context. The report featured the results of the 1991-1992 estimates of stock of FDI, and the concepts, methodology, data system and institutional support needed to implement the FIIS.

Based on the recommendation in the FIIS Study, the NSCB created the Inter-Agency Committee on Foreign Direct Investments Statistics (IAC-FDIS) in September 1996 through NSCB Memorandum Order No. 1-96 to rationalize and integrate foreign investments data in all aspects including collection, processing and dissemination. The IAC-FDIS was composed of:

National Statistical Coordination Board Chair Board of Investments (BOI) Co-Chair Bangko Sentral ng Pilipinas (BSP) Member Bureau of Trade Regulation & Consumer Protection (BTRCP) Member Clark Development Corporation (CDC) Member National Economic and Development Authority (NEDA) Member National Statistics Office (NSO). Member Philippine Economic Zone Authority (PEZA) Member Securities and Exchange Commission (SEC) Member Subic Bay Metropolitan Authority (SBMA) Member

The member agencies of the IAC-FDIS jointly implement the institutionalization of the FIIS. The IAC-FDIS implemented the second component of the FIIS, the Consolidated Quarterly Reporting System (CQRS), which has been producing the quarterly Reports on Foreign Direct Investments in the Philippines since 1997. The CQRS operationalizes the integration and uniform reporting of quarterly data on foreign investment reported by the various concerned agencies.

The other two components of the FIIS are the Registry of Firms on Foreign Investments and the Annual Reporting System. These three components will later be integrated to complete the FIIS.

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Approved Foreign Investments, First Quarter 2021

Consolidated Quarterly Reporting System

Foreign Investment Statistics

II.2. Data and Data Sources

Schedule of Data Data Source Agency Availability 1. Approved Foreign Investment Promotion 1 month before the Investments Agencies: schedule release of 2. Projected employment - Board of Investments the report (BOI) - Clark Development Corporation (CDC) - Philippine Economic Zone Authority (PEZA) - Subic Bay Metropolitan Authority (SBMA) - Authority of the Freeport Area of Bataan (AFAB) - BOI-Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM) - Cagayan Economic Zone Authority (CEZA)

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Approved Foreign Investments, First Quarter 2021

III. Methodology

1. The PSA, as the agency that coordinates all statistical matters in government, has been tasked by the Interagency Committee on Investment Statistics (IACIS) with the preparation of the Consolidated Quarterly Reporting System (CQRS). The CQRS covers actual and approved foreign direct investments.

2. The IPAs generate data on foreign investments monthly. These agencies show “project cost” in reflecting approved or committed investments. For purposes of the CQRS, the term approved investments is adopted. Not all of approved investments will materialize during the period. There is a gestation period between approval and actual investments.

3. To arrive at total approved investments, the reported project costs of BOI, PEZA, SBMA, CDC, AFAB, BOI-BARMM, and CEZA are summed up for the quarter.

4. Total balance of payments foreign direct investments are obtained from BOP tables compiled monthly by the BSP. The BOP provides the data framework on all external transactions of the national economy, in which FDI is one item. Conceptually, the FDI flows in the BOP are consistent with the IMF definition. Hence, these are taken as the global total of foreign investments inflow on a quarterly basis.

5. The Securities and Exchange Commission (SEC) and the Bureau of Trade Regulation and Consumer Protection (BTRCP) of the Department of Trade and Industry (DTI) also report monthly foreign capital investments. SEC comes up with data on investments and number of non-Foreign Investments Act (FIA) registered FDI corporations (foreign ownership is less than 40 percent) and FIA-registered corporations (40 percent and over foreign ownership), by country of investor and by industry. In SEC, foreign investments refer to the foreign equity (paid-up) capital of the non-FIA and FIA registered corporations. It should be noted, however, that registration with SEC and BTRCP does not translate into actual flows as captured by the BOP of BSP.

6. Hence, what are not reported at present are additional investments of existing FDI enterprises. SEC covers only that portion of existing FDI enterprises that apply for additional authorized capitalization.

7. The International Operations Department (IOD) of the BSP registers foreign direct investments in cash or in kind in any enterprise organized or existing under the laws of the Philippines. Registration of foreign investments with BSP is not mandatory but it gives foreign investors the authority to source foreign exchange from the local banking system to service capital repatriation and cash dividends/profits and other earnings accruing to BSP-registered investments. As there is currently no mandatory period within which to register these investments, there is a time lag between the registration with the BSP and the inflow of the investment funds or in the case of investment in kind, the receipt by investee firm of said investment. In some cases, this time lag could be a year or longer.

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Approved Foreign Investments, First Quarter 2021

8. Total approved investments include all Filipino and foreign investments which has been granted approval by the promotion agencies, i.e., BOI, PEZA, CDC, SBMA, AFAB, BOI-BARMM, and CEZA.

9. Due to the cut-off periods on data processing adopted in the preparation of this report, revisions for the immediately preceding quarters may be done in each issue.

IV. Concepts and Definition of Terms

1. One of the objectives of the Foreign Investments Information System (FIIS) is to develop a system that is comparable internationally. As such, the Philippine FIIS is adopting the International Monetary Fund (IMF) concept of Foreign Direct Investments as described in the Fifth Edition of the Balance of Payments (BOP) Manual, in all of its components, i.e., the Register, the Annual FDI Reporting System and the Consolidated Quarterly Reporting System (CQRS).

2. Foreign Direct Investments (FDI), as defined in the BOP Manual, are investments made to acquire a lasting interest by a resident entity in one economy in an enterprise resident in another economy. The purpose of the investor is to have a significant influence, an effective voice in the management of the enterprise. To operationalize this definition, the FIIS followed the benchmark definition of the Organization for Economic Cooperation and Development (OECD) which considers as direct investment enterprise an incorporated or unincorporated enterprise in which a direct investor who is resident in another economy owns ten percent or more of the ordinary shares or voting power (for incorporated enterprise) or the equivalent (for an unincorporated enterprise). The ten percent cut-off in equity is used to distinguish between direct and portfolio investments, which is not covered by the FIIS at present.

3. Since the Philippines is more of a recipient of foreign investments, the FIIS covers only inward foreign direct investments. Specifically, this includes Foreign Direct Investments in Philippine corporations, partnerships, and single proprietorships.

4. Foreign Direct Investment Flows refer to the new or additional investments paid by a foreign entity to a resident enterprise in another country during the period. In the case of the Philippines, this covers: capital or equity contributions/remittances from abroad, reinvested earnings, technical fees and royalties converted to equity, bonds and other debts converted to equity and imports converted to equity. Specifically, the CQRS will report on approved FDI flows, registered FDI flows and the balance of payments (BOP) FDI flows.

5. Approved Foreign Investments represent the amount of proposed contribution or share of foreigners to various projects in the country as approved and registered by the Board of Investments (BOI), Philippine Economic Zone Authority (PEZA), Subic Bay Metropolitan Authority (SBMA), Clark Development Corporation (CDC), Authority of the Freeport Area of Bataan (AFAB), the BOI-Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM), and Cagayan Economic Zone Authority (CEZA). Approved foreign investments do not represent actual investments

19

Approved Foreign Investments, First Quarter 2021 generated but rather foreign investment commitments which may come in the near future. This consists of equity, loans, and reinvested earnings. In the operationalization of computing for approved FIs as approved and registered with the Investment Promotion Agencies (IPAs), all FIs including those with less than ten percent of the ordinary shares are included. The reason is that approved FIs as rendered by the IPAs have long lasting interest unlike portfolio investments.

6. Approved FIs in the Information and Communication Technology Sector (ICT) includes investment commitments in the manufacturing of ICT equipment, spare parts and accessories including professional, medical and scientific instruments as well as ICT services e.g., wholesale trade of computers, electronic parts and equipment; telecommunications; renting of computers and other office equipment; computer services and other related activities.

7. Registered FDIs only represent foreign equity investments or paid up capital and does not include intercompany loans. Hence, not all approved FDIs are translated into registered FDIs since the former consist of intercompany loans and reinvested earnings. In addition, capital inflows from approved FDIs are spread or expected to be fully implemented after five years or more, based on the experience of investment promotion agencies.

On the other hand, the BOP FDIs cover cash and non-cash transactions on foreign direct investment flows that are coursed through the banking system. Machinery, equipment and reinvested earnings, which are not cash transactions are included if data are available.

V. Dissemination of Results

The Approved Foreign Investments is released quarterly in the PSA website with the following schedules.

Foreign Investments Report Schedule of Release Quarter 4 of the Previous Year February of the Current Year Quarter 1 of the Current Year June of the Current Year Quarter 2 of the Current Year September of the Current Year Quarter 3 of the Current Year December of the Current Year

The web release materials include press release, statistical tables, infographics, publication report, and social cards.

VI. Citation

Philippine Statistics Authority. (2020). Technical Notes on Approved Foreign Investments. https://psa.gov.ph/technical-notes/afi

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Approved Foreign Investments, First Quarter 2021

VII. Contact Information

Mr. Gerald Junne L. Clariño Chief Statistical Specialist Satellite Accounts Division (02) 8374-1954 [email protected]

For data request, you may contact: Knowledge Management and Communications Division (02) 8462-6600 loc. 820 [email protected] | [email protected]

21

Part III Statistical Tables

Symbols Used

Symbols Meaning

r Revised

- Zero

** Growth rates > 1,000

Approved Foreign Investment, First Quarter 2021

TABLE 1A Total Approved Foreign Investments by Investment Promotion Agency at Current Prices: First Quarter 1996 to Fourth Quarter 2006 (in million PhP)

Year Quarter AFAB BOI BOI BARMM CDC CEZA PEZA SBMA Total Q1 13,160.0 270.0 6,900.0 1,990.0 22,320.0 Q2 25,130.0 2,460.0 3,090.0 530.0 31,210.0 1996 Q3 5,270.0 250.0 3,410.0 3,790.0 12,720.0 Q4 29,590.0 170.0 2,290.0 3,140.0 35,190.0 Total 73,150.0 3,150.0 15,690.0 9,450.0 101,440.0 Q1 35,110.0 500.0 5,280.0 340.0 41,230.0 Q2 18,780.0 - 10,580.0 370.0 29,730.0 1997 Q3 112,050.0 390.0 8,230.0 30.0 120,700.0 Q4 18,510.0 50.0 28,420.0 2,420.0 49,400.0 Total 184,450.0 940.0 52,510.0 3,160.0 241,060.0 Q1 62,400.0 100.0 16,100.0 200.0 78,800.0 Q2 19,900.0 300.0 20,700.0 3,000.0 43,900.0 1998 Q3 4,800.0 100.0 1,700.0 - 6,600.0 Q4 32,400.0 - 6,900.0 200.0 39,500.0 Total 119,500.0 500.0 45,400.0 3,400.0 168,800.0 Q1 12,800.0 300.0 2,900.0 2,300.0 18,300.0 Q2 49,900.0 100.0 10,600.0 400.0 61,000.0 1999 Q3 1,600.0 700.0 5,600.0 - 7,900.0 Q4 6,300.0 - 12,900.0 100.0 19,300.0 Total 70,600.0 1,100.0 32,000.0 2,800.0 106,500.0 Q1 2,600.0 300.0 6,300.0 900.0 10,100.0 Q2 1,800.0 800.0 18,600.0 700.0 21,900.0 2000 Q3 6,700.0 500.0 28,400.0 100.0 35,700.0 Q4 4,500.0 100.0 7,800.0 200.0 12,600.0 Total 15,600.0 1,700.0 61,100.0 1,900.0 80,300.0 Q1 1,100.0 120.0 13,000.0 30.0 14,250.0 Q2 4,800.0 20.0 2,100.0 5.2 6,925.2 2001 Q3 17,600.0 130.0 7,000.0 200.0 24,930.0 Q4 5,500.0 0.1 6,300.0 70.0 11,870.1 Total 29,000.0 270.1 28,400.0 305.2 57,975.3 Q1 2,100.0 64.0 2,800.0 63.0 5,027.0 Q2 2,400.0 13,600.0 10,100.0 211.0 26,311.0 2002 Q3 610.0 0.5 4,000.0 122.0 4,732.5 Q4 3,700.0 50.0 5,920.0 350.0 10,020.0 Total 8,810.0 13,714.5 22,820.0 746.0 46,090.5 Q1 2,654.5 10.5 3,468.7 179.0 6,312.6 Q2 723.4 354.0 5,917.8 57.6 7,052.8 2003 Q3 1,993.0 9.2 4,394.2 99.8 6,496.2 Q4 2,977.6 - 11,142.1 29.0 14,148.7 Total 8,348.5 373.8 24,922.8 365.3 34,010.3 Q1 97,280.0 379.9 20,876.4 17.2 118,553.5 Q2 401.0 1,581.3 4,762.1 1,254.5 7,998.9 2004 Q3 4,237.6 79.4 2,649.4 261.1 7,227.4 Q4 25,970.3 114.1 13,248.9 782.0 40,115.3 Total 127,888.9 2,154.6 41,536.8 2,314.8 173,895.2 Q1 19,115.1 31.6 11,991.2 367.3 31,505.2 Q2 5,793.0 95.4 5,857.1 1.5 11,746.9 2005 Q3 6,064.5 54.8 9,717.8 366.1 16,203.3 Q4 12,824.3 1,147.2 22,276.1 103.7 36,351.3 Total 43,796.9 1,329.0 49,842.2 838.7 95,806.8 Q1 2,413.5 901.2 8,829.7 51,385.8 63,530.1 Q2 24,033.6 3,360.3 8,575.8 16,718.0 52,687.7 2006 Q3 6,813.8 3,543.1 21,661.8 312.3 32,331.0 Q4 3,296.1 278.6 13,270.7 485.6 17,331.0 Total 36,557.0 8,083.1 52,338.0 68,901.7 165,879.8 Note: Data submissions from AFAB, BOI-BARMM and CEZA start from 2010. Caution is advised in the analysis of the time series. Sources: Authority of the Freeport Area of Bataan (AFAB), Board of Investments (BOI), BOI-Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM), Clark Development Corporation (CDC), Cagayan Economic Zone Authority (CEZA), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA).

24 Approved Foreign Investment, First Quarter 2021

TABLE 1A Total Approved Foreign Investments by Investment Promotion Agency at Current Prices: First Quarter 2007 to Fourth Quarter 2017 (in million PhP)

Year Quarter AFAB BOI BOI BARMM CDC CEZA PEZA SBMA Total Q1 1,081.7 22.2 16,458.8 278.2 17,840.9 Q2 17,726.7 123.4 29,566.9 11,279.8 58,696.8 2007 Q3 4,809.7 314.7 27,545.0 2,265.1 34,934.5 Q4 78,663.6 1,002.0 13,804.9 9,139.9 102,610.4 Total 102,281.7 1,462.4 87,375.6 22,963.1 214,082.7 Q1 328.6 183.9 19,454.6 782.7 20,749.8 Q2 52,297.7 1,762.7 11,845.7 7,965.1 73,871.1 2008 Q3 40,111.1 7,096.4 18,920.2 546.5 66,674.2 Q4 814.2 200.1 20,134.6 237.0 21,385.8 Total 93,551.6 9,243.0 70,355.1 9,531.2 182,680.9 Q1 434.4 62.6 3,419.8 42.4 3,959.1 Q2 2,164.4 2,446.7 12,678.6 2,659.3 19,949.0 2009 Q3 144.0 1,722.7 8,064.6 437.7 10,369.0 Q4 7,654.3 303.5 79,258.4 322.8 87,538.9 Total 10,396.9 4,535.5 103,421.3 3,462.2 121,815.9 Q1 - 1,459.8 - 23,121.6 - 21,161.3 949.5 46,692.2 Q2 - 2,030.9 - 898.7 - 6,643.8 4,199.7 13,773.1 2010 Q3 - 9,095.4 - 173.1 - 9,613.6 85.0 18,967.1 Q4 - 9,742.5 - 2,056.4 - 104,748.6 83.5 116,631.0 Total - 22,328.5 - 26,249.8 - 142,167.4 5,317.7 196,063.5 Q1 - 2,435.0 - 1,851.8 11.4 17,674.9 60.2 22,033.4 Q2 - 8,806.5 - 14,602.1 - 16,770.5 101.0 40,280.0 2011 Q3 - 10,662.4 - 2,149.0 13.2 14,510.6 664.6 27,999.8 Q4 86.0 1,331.0 - 203.0 208.9 146,578.2 19,511.1 167,918.1 Total 86.0 23,234.9 - 18,805.9 233.5 195,534.1 20,336.9 258,231.2 Q1 153.3 3,733.4 - 1,604.5 82.6 12,787.1 144.1 18,505.0 Q2 12.6 6,688.8 - 532.6 15.7 15,284.6 128.9 22,663.2 2012 Q3 - 7,441.0 426.8 36.2 10.5 10,083.7 162.5 18,160.7 Q4 224.8 56,201.6 - 2,331.1 20.2 171,221.0 216.7 230,215.4 Total 390.6 74,064.8 426.8 4,504.4 128.9 209,376.5 652.3 289,544.3 Q1 - 17,164.3 - 50.4 86.2 32,869.5 134.7 50,305.2 Q2 - 45,641.4 - 749.2 28.7 12,370.3 39.4 58,829.0 2013 Q3 108.7 3,879.8 - 159.7 46.1 28,346.5 379.3 32,920.0 Q4 2,012.0 53,960.7 322.0 1,026.7 438.8 74,084.5 114.6 131,959.3 Total 2,120.7 120,646.3 322.0 1,986.0 599.8 147,670.8 668.0 274,013.5 Q1 - 4,686.4 36.9 358.6 36.7 20,976.4 11,318.4 37,413.4 Q2 74.6 6,776.1 314.7 7,582.1 14.4 21,080.9 187.6 36,030.5 2014 Q3 155.6 1,933.4 228.0 596.9 82.0 15,210.1 124.5 18,330.5 Q4 175.8 23,492.4 - 449.7 208.7 70,212.2 646.8 95,185.6 Total 406.0 36,888.4 579.6 8,987.3 341.9 127,479.7 12,277.2 186,960.0 Q1 97.8 2,378.3 - 4,636.4 88.6 14,423.0 191.9 21,816.1 Q2 5.0 10,908.3 - 720.4 345.2 23,961.0 270.8 36,210.7 2015 Q3 196.3 28,509.9 3,218.7 2,265.0 92.1 13,894.3 394.6 48,570.9 Q4 160.5 17,710.5 - 2,080.0 69.9 116,647.0 1,950.2 138,618.1 Total 459.6 59,507.0 3,218.7 9,701.8 595.7 168,925.3 2,807.5 245,215.7 Q1 76.4 8,448.1 1,040.0 492.9 23.4 15,813.9 348.2 26,242.8 Q2 78.0 21,447.0 - 741.2 80.0 14,139.4 3,905.2 40,390.7 2016 Q3 7.0 19,698.4 - 79.4 22.4 6,373.6 530.0 26,710.8 Q4 - 39,802.4 0.1 982.2 16.0 84,888.9 4.7 125,694.3 Total 161.4 89,395.9 1,040.1 2,295.6 141.7 121,215.8 4,788.1 219,038.6 Q1 - 1,895.7 - 845.7 54.1 19,772.5 315.3 22,883.3 Q2 279.2 3,576.8 4.7 441.0 21.1 13,780.0 62.4 18,165.3 2017 Q3 142.2 7,014.0 720.0 1,063.9 5.0 34,052.2 51.1 43,048.3 Q4 9.0 9,250.0 - 1,568.1 2.4 10,673.6 145.4 21,648.6 Total 430.4 21,736.5 724.7 3,918.7 82.5 78,278.3 574.3 105,745.5 Note: Data submissions from AFAB, BOI-BARMM and CEZA start from 2010. Caution is advised in the analysis of the time series. Sources: Authority of the Freeport Area of Bataan (AFAB), Board of Investments (BOI), BOI-Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM), Clark Development Corporation (CDC), Cagayan Economic Zone Authority (CEZA), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA).

25 Approved Foreign Investment, First Quarter 2021

TABLE 1A Total Approved Foreign Investments by Investment Promotion Agency at Current Prices: First Quarter 2018 to First Quarter 2021 (in million PhP)

Year Quarter AFAB BOI BOI BARMM CDC CEZA PEZA SBMA Total Q1 - 792.8 - 339.8 104.1 12,960.1 11.5 14,208.4 Q2 - 13,697.6 - 2,005.8 174.5 14,410.1 657.6 30,945.6 2018 Q3 82.3 19,149.2 235.1 329.0 272.4 22,454.4 117.5 42,639.9 Q4 1,590.7 70,327.7 - 4,473.7 647.3 18,496.8 17.3 95,553.4 Total 1,673.0 103,967.2 235.1 7,148.4 1,198.3 68,321.4 803.9 183,347.4 Q1 174.3 30,817.5 - 381.0 79.8 12,969.1 1,563.0 45,984.7 Q2 15.1 38,053.8 - 478.4 142.6 10,516.2 369.3 49,575.4 2019 Q3 150.8 170,982.7 306.8 152.9 72.3 10,294.1 476.3 182,436.0 Q4 0.0 95,886.7 0.0 244.8 45.8 15,475.8 460.8 112,114.0 Total 340.2 335,740.7 306.9 1,257.1 340.6 49,255.3 2,869.3 390,110.1 Q1 0.9 13,363.2 - 2,253.1 1,099.6 12,315.8 110.5 29,143.2 Q2 0.0 5,258.0 - 13.6 57.5 10,105.7 25.8 15,460.7 2020 Q3 1.2 10,630.7 - 13.5 50.0 20,276.5 60.5 31,032.5 Q4 393.0 18,478.8 3.0 292.7 53.6 17,031.3 234.2 36,486.6 Total 395.1 47,730.7 3.0 2,573.0 1,260.7 59,729.4 431.0 112,122.9 2021 Q1 39.4 6,840.8 - 357.3 49.1 12,186.6 76.4 19,549.6 Note: Data submissions from AFAB, BOI-BARMM and CEZA start from 2010. Caution is advised in the analysis of the time series. . Sources: Authority of the Freeport Area of Bataan (AFAB), Board of Investments (BOI), BOI-Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM), Clark Development Corporation (CDC), Cagayan Economic Zone Authority (CEZA), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA).

26 Approved Foreign Investment, First Quarter 2021

TABLE 1B Total Approved Foreign Investments by Investment Promotion Agency at Current Prices: First Quarter 2020 to First Quarter 2021 (in million PhP)

Approved FI Share to Growth Rate (%) Agency2020 2021 Total (%) Q1 2020 - Q1 Q2 Q3 Q4 Total Q1 Q1 2021 Q1 2021

AFAB 0.9 0.0 1.2 393.0 395.1 39.4 0.2 ** BOI 13,363.2 5,258.0 10,630.7 18,478.8 47,730.7 6,840.8 35.0 -48.8 BOI BARMM - - - 3.0 3.0 - - - CDC 2,253.1 13.6 13.5 292.7 2,573.0 357.3 1.8 -84.1 CEZA 1,099.6 57.5 50.0 53.6 1,260.7 49.1 0.3 -95.5 PEZA 12,315.8 10,105.7 20,276.5 17,031.3 59,729.4 12,186.6 62.3 -1.0 SBMA 110.5 25.8 60.5 234.2 431.0 76.4 0.4 -30.8 Total 29,143.2 15,460.7 31,032.5 36,486.6 112,122.9 19,549.6 100.0 -32.9 Dash (-) is equivalent to zero **Growth rates greater than 1,000

TABLE 2 Total Approved Foreign Investments by Country of Investor at Current Prices: First Quarter 2020 to First Quarter 2021 (in million PhP)

Approved FI Share to Growth Rate (%) Country 2020 2021 Total (%) Q1 2020 - Q1 Q2 Q3 Q4 Total Q1 Q1 2021 Q1 2021

Australia 186.87 133.60 164.31 85.32 570.10 46.30 0.2 -75.2 British Virgin Islands 110.10 - 249.18 - 359.28 - 0.0 -100.0 Canada 205.03 - 8.61 29.20 242.84 14.41 0.1 -93.0 Cayman Islands 428.49 - - - 428.49 1,136.77 5.8 165.3 China (PROC) 5,042.00 69.65 9,582.56 902.00 15,596.20 399.05 2.0 -92.1 France 1,513.80 3.89 3.74 148.36 1,669.78 56.84 0.3 -96.2 Germany 118.71 - 617.22 27.46 763.39 407.40 2.1 243.2 Hongkong 1.00 69.38 19.83 210.27 300.47 146.81 0.8 ** India 324.85 3.89 0.00 690.55 1,019.30 34.05 0.2 -89.5 Japan 1,274.29 514.36 3,306.74 4,280.68 9,376.07 10,716.55 54.8 741.0 South Korea 2,131.26 150.73 5.35 1,870.97 4,158.32 592.63 3.0 -72.2 Malaysia 635.35 0.00 0.01 2.45 637.80 - 0.0 -100.0 Netherlands 1,950.59 1,853.38 556.71 2,440.96 6,801.65 78.11 0.4 -96.0 Singapore 1,878.19 1,092.79 2,743.90 4,277.94 9,992.82 85.45 0.4 -95.5 Switzerland - - - 28.56 28.56 95.86 0.5 - Taiwan 1,149.65 341.38 518.49 4,396.75 6,406.27 169.85 0.9 -85.2 Thailand 100.00 0.00 - 14.56 114.56 8.26 0.0 -91.7 UK 6,145.80 2,033.42 4,759.78 137.16 13,076.16 470.09 2.4 -92.4 USA 5,742.02 9,079.08 7,154.93 13,396.42 35,372.45 322.32 1.6 -94.4 Others 205.20 115.10 1,341.11 3,546.93 5,208.35 4,768.80 24.4 ** Total 29,143.19 15,460.66 31,032.46 36,486.56 112,122.86 19,549.56 100.0 -32.9 Dash (-) is equivalent to zero **Growth rates greater than 1,000 Note: Details may not add up to totals due to rounding. Sources: Authority of the Freeport Area of Bataan (AFAB), Board of Investments (BOI), BOI-Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM), Clark Development Corporation (CDC), Cagayan Economic Zone Authority (CEZA), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA).

27 Approved Foreign Investment, First Quarter 2021

TABLE 3 Total Approved Foreign Investments by Industry at Current Prices: First Quarter 2020 to First Quarter 2021 (in million PhP)

Approved FI Share to Growth Rate (%) Industrya/ 2020 2021 Total (%) Q1 2020 - Q1 Q2 Q3 Q4 Total Q1 Q1 2021 Q1 2021

A. Agriculture, forestry and fishing 63.0 74.0 - - 136.9 - - -100.0 B. Mining and Quarrying - - 583.0 63.2 646.2 49.1 0.3 - C. Manufacturing 9,949.7 1,730.5 15,546.3 10,370.0 37,596.5 11,135.4 57.0 11.9 D. Electricity, gas, steam and air conditioning 4.2 - 1,084.0 1,268.6 2,356.7 541.1 2.8 ** supply E. Water supply; sewerage, waste management ------and remediation activities F. Construction 157.5 - - 54.4 211.9 1.4 0.0 -99.1 G. Wholesale and retail trade; repair of motor 666.2 1,242.0 20.1 310.7 2,239.1 144.5 0.7 -78.3 vehicles and motorcycles H. Transportation and storage 10,926.0 3,915.6 8,633.3 13,994.0 37,469.0 22.2 0.1 -99.8 I. Accommodation and food service activities 2,080.5 - 28.0 68.6 2,177.1 - - -100.0 J. Information and communication 85.1 139.7 155.5 65.0 445.4 4,578.0 23.4 ** K. Financial and insurance activities 27.0 19.3 25.0 15.5 86.8 20.1 0.1 -25.5 L. Real estate activities 2,160.7 77.7 1,616.3 6,960.2 10,815.0 2,240.9 11.5 3.7

M. Professional, scientific and technical activities 27.3 49.5 76.9 47.5 0.2 73.8

N. Administrative and support service activities 2,986.8 8,261.8 3,281.7 3,310.4 17,840.6 769.4 3.9 -74.2 O. Public Administration and Defense; ------Compulsory Social Security P. Education - - 0.1 - 0.1 - - - Q. Human health and social work activities ------R. Arts, entertainment and recreation 9.1 - - - 9.1 - - -100.0 S. Other service activities - - 9.5 6.0 15.5 - - - Total 29,143.2 15,460.7 31,032.5 36,486.6 112,122.9 19,549.6 100.0 -32.9 Dash (-) is equivalent to zero **Growth rates greater than 1,000 a/ The 2009 Philippine Standard Industrial Classification (PSIC) is adopted in classifying the industry.

Table 4 Total Approved Foreign Investments by Region at Current Prices: First Quarter 2020 to First Quarter 2021 (in million PhP)

2020 2021 Share to Growth Rate (%) Region Total (%) Q1 2020 - Q1 Q2 Q3 Q4 Total Q1 Q1 2021 Q1 2021

NCR - National Capital Region 12,871.3 13,262.4 9,095.2 5,151.4 40,380.3 1,744.8 8.9 -86.4 CAR - Cordillera Administrative Region ------I - Ilocos Region 324.8 130.8 - - 455.6 - - -100.0 II - Cagayan Valley 1,162.6 57.5 50.0 53.6 1,323.6 49.1 0.3 -95.8 III - Central Luzon 4,263.0 51.7 3,479.7 6,677.3 14,471.7 659.8 3.4 -84.5 IVA - CALABARZON 5,127.7 1,884.2 5,217.8 22,771.7 35,001.5 7,544.0 38.6 47.1 MIMAROPA - - 53.0 - 53.0 146.8 0.8 - V - Bicol Region - - - - - 0.0 0.0 - VI - Western Visayas 671.1 - 1,143.2 715.8 2,530.1 442.6 2.3 -34.1 VII - Central Visayas 1,302.1 - 1,838.9 672.2 3,813.1 2,732.3 14.0 109.8 VIII - Eastern Visayas - - - - - 293.4 1.5 - IX - Zamboanga Peninsula ------X - Northern Mindanao - - - - - 62.1 0.3 - XI - Davao Region 4.6 74.0 426.5 441.6 946.6 220.5 1.1 ** XII - SOCCSKSARGEN 3,416.1 - 9,728.1 - 13,144.2 - - -100.0 XIII - Caraga - - - - - 1,132.5 5.8 - BARMM - Bangsamoro Autonomous Region in - - - 3.0 3.0 - - - Muslim Mindanao Several Locations - - - - - 4,521.8 23.1 - Total 29,143.2 15,460.7 31,032.5 36,486.6 112,122.9 19,549.6 100.0 -32.9 Dash (-) is equivalent to zero **Growth rates greater than 1,000 Note: Details may not add up to totals due to rounding. Sources: Authority of the Freeport Area of Bataan (AFAB), Board of Investments (BOI), BOI-Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM), Clark Development Corporation (CDC), Cagayan Economic Zone Authority (CEZA), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA).

28 Approved Foreign Investment, First Quarter 2021

TABLE 5 Projected Employment from Approved Projects with Foreign Interest: First Quarter 2020 to First Quarter 2021

Share to Growth Rate (%) 2020 2021 Agency Total (%) Q1 2020 - Q1 Q2 Q3 Q4 Total Q1 Q1 2021 Q1 2021

AFAB 13 24 3 350 390 880 4.8 ** BOI 7,771 1,804 7,453 7,655 24,683 9,276 50.4 19.4 BOI BARMM - - - 18 18 - - - CDC 3,315 82 244 1,122 4,763 615 3.3 -81.4 CEZA 55 12 12 161 240 4 0.0 -92.7 PEZA 21,119 19,894 13,435 14,770 69,218 7,560 41.1 -64.2 SBMA 122 24 97 163 406 81 0.4 -33.6 Total 32,395 21,840 21,244 24,239 99,718 18,416 100.0 -43.2 Dash (-) is equivalent to zero **Growth rates greater than 1,000

TABLE 6 Total Approved Investments of Foreign and Filipino Nationals by Investment Promotion Agency at Current Prices: First Quarter 2020 to First Quarter 2021 (in million PhP)

Share to Growth Rate (%) 2020 2021 Agency Total (%) Q1 2020 - Q1 Q2 Q3 Q4r Total Q1 Q1 2021 Q1 2021

AFAB 8,657.0 50.6 495.2 4,894.3 14,097.0 134.0 0.1 -98.5 BOI 83,366.7 561,912.0 134,234.6 238,177.0 1,017,690.3 138,076.2 83.6 65.6 BOI BARMM - - - 14.3 14.3 - - - CDC 3,718.7 18.0 2,454.8 1,478.7 7,670.2 1,022.8 0.6 -72.5 CEZA 2,862.6 247.5 248.5 126.5 3,485.2 418.3 0.3 -85.4 PEZA 16,496.2 13,045.2 38,949.7 26,541.8 95,033.0 25,382.0 15.4 53.9 SBMA 790.4 66.1 167.9 355.5 1,379.8 129.7 0.1 -83.6 Total 115,891.6 575,339.4 176,550.8 271,588.1 1,139,369.8 165,163.2 100.0 42.5 Dash (-) is equivalent to zero r - Revised Note: Details may not add up to totals due to rounding. Sources: Authority of the Freeport Area of Bataan (AFAB), Board of Investments (BOI), BOI-Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM), Clark Development Corporation (CDC), Cagayan Economic Zone Authority (CEZA), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA).

29 Approved Foreign Investment, First Quarter 2021

TABLE 7 Total Approved Investments by Nationality (Filipino and Foreign) and by Investment Promotion Agency at Current Prices: First Quarter 2020 to First Quarter 2021 (in million PhP)

2020 Agency 1st Quarter 2nd Quarter 3rd Quarter 4th Quarterr Filipino Foreign Total Filipino Foreign Total Filipino Foreign Total Filipinor Foreign Total

AFAB 8,656.1 0.9 8,657.0 50.5 0.0 50.6 494.0 1.2 495.2 4,501.4 393.0 4,894.3 BOI 70,003.4 13,363.2 83,366.7 556,654.0 5,258.0 561,912.0 123,603.9 10,630.7 134,234.6 219,698.2 18,478.8 238,177.0 BOI BARMM ------11.3 3.0 14.3 CDC 1,465.6 2,253.1 3,718.7 4.3 13.6 18.0 2,441.3 13.5 2,454.8 1,186.0 292.7 1,478.7 CEZA 1,763.0 1,099.6 2,862.6 190.0 57.5 247.5 198.5 50.0 248.5 72.9 53.6 126.5 PEZA 4,180.4 12,315.8 16,496.2 2,939.5 10,105.7 13,045.2 18,673.2 20,276.5 38,949.7 9,510.5 17,031.3 26,541.8 SBMA 679.9 110.5 790.4 40.3 25.8 66.1 107.4 60.5 167.9 121.3 234.2 355.5 Total 86,748.4 29,143.2 115,891.6 559,878.7 15,460.7 575,339.4 145,518.3 31,032.5 176,550.8 235,101.5 36,486.6 271,588.1 % Share to 74.9 25.1 100.0 97.3 2.7 100.0 82.4 17.6 100.0 86.6 13.4 100.0 Total

2021 Growth Rate (%) Agency 1st Quarter Q1 2020 - Q1 2021 Filipino Foreign Total Filipino Foreign Total

AFAB 94.6 39.4 134.0 -98.9 ** -98.5 BOI 131,235.5 6,840.8 138,076.2 87.5 -48.8 65.6 BOI BARMM ------CDC 665.5 357.3 1,022.8 -54.6 -84.1 -72.5 CEZA 369.3 49.1 418.3 -79.1 -95.5 -85.4 PEZA 13,195.4 12,186.6 25,382.0 215.6 -1.0 53.9 SBMA 53.3 76.4 129.7 -92.2 -30.8 -83.6 Total 145,613.6 19,549.6 165,163.2 67.9 -32.9 42.5 % Share to 88.2 11.8 100.0 Total Dash (-) is equivalent to zero **Growth rates greater than 1,000 r - Revised

TABLE 8 Total Approved Investments of Foreign and Filipino Nationals by Industry at Current Prices: First Quarter 2020 to First Quarter 2021 (in million PhP)

Approved Investments Share to Growth Rate (%) Industrya/ 2020 2021 Total (%) Q1 2020 - Q1 Q2 Q3 Q4r Total Q1 Q1 2021 Q1 2021

A. Agriculture, Forestry and Fishing 157.4 944.0 2,827.0 - 3,928.3 364.8 0.2 131.8 B. Mining and Quarrying - - 583.0 2,700.0 3,283.0 239.2 0.1 - C. Manufacturing 12,952.4 2,984.5 21,868.0 12,475.6 50,280.4 12,749.1 7.7 -1.6 D. Electricity, Gas, Steam and Air 4,482.1 2,402.1 62,200.0 132,979.6 202,063.8 122,450.3 74.1 ** Conditioning Supply E. Water Supply; Sewerage, Waste Management and Remediation 284.7 - 158.6 26,674.0 27,117.2 - - -100.0 Activities F. Construction 1,599.5 5.0 - 26,653.6 28,258.1 10.1 0.0 -99.4 G. Wholesale and Retail Trade; Repair 1,468.6 1,765.2 87.7 1,645.1 4,966.6 174.3 0.1 -88.1 of Motor Vehicles and Motorcycles H. Transportation and Storage 61,291.7 556,522.2 56,143.8 20,878.7 694,836.5 1,481.8 0.9 -97.6 I. Accommodation and Food Service 6,064.3 4.3 3,444.5 7,231.8 16,744.9 2,077.1 1.3 -65.7 Activities J. Information and Communication 86.5 189.2 174.9 78.7 529.3 4,696.7 2.8 ** K. Financial and Insurance Activities 27.0 19.3 26.0 19.8 92.2 20.2 0.0 -25.2 L. Real Estate Activities 23,943.5 2,233.7 24,810.2 34,339.9 85,327.4 19,387.1 11.7 -19.0 M. Professional, Scientific and 34.5 - 59.9 6.8 101.2 615.0 0.4 ** Technical Activities N. Administrative and Support Service 3,484.5 8,269.8 3,439.2 3,487.6 18,681.1 818.6 0.5 -76.5 Activities O. Public Administration and Defense; - - 578.6 - 578.6 - - - Compulsory Social Security P. Education 1.0 - 0.1 - 1.1 - - -100.0 Q. Human Health and Social Work - - 140.0 2,350.5 2,490.4 76.3 0.0 - Activities R. Arts, Entertainment and Recreation 13.3 - - 50.0 63.3 1.0 0.0 -92.8 S. Other Service Activities 0.6 - 9.5 16.3 26.4 1.6 0.0 177.8 Total 115,891.6 575,339.4 176,550.8 271,588.1 1,139,369.8 165,163.2 100.0 42.5 Dash (-) is equivalent to zero **Growth rates greater than 1,000 a/ The 2009 Philippine Standard Industrial Classification (PSIC) is adopted in classifying the industry. r - Revised Notes: 1. Approved Investments refer to the project cost or committed investments by Filipino and foreign investors. 2. Filipino investments include all committed investments of Filipinos in wholly and partially owned companies. 3. Details may not add up to totals due to rounding. Sources: Authority of the Freeport Area of Bataan (AFAB), Board of Investments (BOI), BOI-Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM), Clark Development Corporation (CDC), Cagayan Economic Zone Authority (CEZA), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA).

30 Approved Foreign Investment, First Quarter 2021

TABLE 9 Total Approved Investments of Foreign and Filipino Nationals by Region at Current Prices: First Quarter 2020 to First Quarter 2021 (in million PhP)

2020 2021 Share to Growth Rate (%) Region Total (%) Q1 2020 - Q1 Q2 Q3 r Total Q1 Q4 Q1 2021 Q1 2021

NCR - National Capital Region 62,863.4 33,386.1 52,918.4 15,831.9 164,999.8 4,209.0 2.5 -93.3

CAR - Cordillera Administrative Region - 1,847.7 2,150.7 3,998.4 35,879.1 21.7 -

I - Ilocos Region 814.8 654.0 4,407.4 8,538.6 14,414.8 453.3 0.3 -44.4 II - Cagayan Valley 3,020.0 484.9 3,302.0 4,436.7 11,243.6 418.3 0.3 -86.1 III - Central Luzon 19,457.2 535,006.6 21,315.6 39,708.2 615,487.7 80,077.6 48.5 311.6 IVA - CALABARZON 11,376.8 4,930.8 20,595.2 174,332.5 211,235.2 11,750.2 7.1 3.3 MIMAROPA 526.6 3,679.7 4,206.3 1,663.7 1.0 - V - Bicol Region 115.4 6,243.1 5,496.2 11,854.7 9,722.7 5.9 ** VI - Western Visayas 4,633.4 3,291.1 2,870.3 10,794.8 3,101.4 1.9 -33.1 VII - Central Visayas 2,882.9 170.4 11,663.9 5,246.9 19,964.1 9,088.1 5.5 215.2 VIII - Eastern Visayas 2,399.3 1,216.1 3,615.4 985.1 0.6 - IX - Zamboanga Peninsula 5,593.2 1,034.7 6,627.8 - - - X - Northern Mindanao 3,266.4 26,488.2 3,622.6 33,377.1 581.1 0.4 -82.2 XI - Davao Region 3,975.9 636.6 4,251.0 2,764.9 11,628.4 842.7 0.5 -78.8 XII - SOCCSKSARGEN 3,485.2 70.0 11,708.2 591.1 15,854.5 735.8 0.4 -78.9 XIII - Caraga 52.9 52.9 1,133.0 0.7 - BARMM - Bangsamoro Autonomous - - - 14.3 14.3 - - - Region in Muslim Mindanao Several Locations - - - - - 4,522.1 2.7 - No Site Yet ------Total 115,891.6 575,339.4 176,550.8 271,588.1 1,139,369.8 165,163.2 100.0 42.5 Dash (-) is equivalent to zero **Growth rates greater than 1,000 r - Revised

TABLE 10 Projected Employment from Approved Investments of Foreign and Filipino Nationals: First Quarter 2020 to First Quarter 2021

2020 2021 Share to Growth Rate (%) Agency Total (%) Q1 2020 - Q1 Q2 Q3 Q4r Total Q1 Q1 2021 Q1 2021

AFAB 303 29 1,583 958 2,873 960 4.1 216.8 BOI 10,605 16,477 11,093 17,023 55,198 12,496 53.2 17.8 BOI BARMM - - - 18 18 - - - CDC 3,634 110 2,699 1,448 7,891 1,239 5.3 -65.9 CEZA 93 15 25 693 826 57 0.2 -38.7 PEZA 21,174 19,894 16,537 15,098 72,703 8,531 36.3 -59.7 SBMA 321 47 163 250 781 189 0.8 -41.1 Total 36,130 36,572 32,100 35,488 140,290 23,472 100.0 -35.0 Dash (-) is equivalent to zero r - Revised

TABLE 11 Projected Employment from Approved Investments of Foreign and Filipino Nationals by Industry: First Quarter 2020 to First Quarter 2021

Approved Investments Share to Growth Rate (%) Industrya/ 2020 2021 Total (%) Q1 2020 - Q1 Q2 Q3 Q4r Total Q1 Q1 2021 Q1 2021

A. Agriculture, Forestry and Fishing 54 392 262 - 708 12 0.1 -77.8 B. Mining and Quarrying - - 63 - 63 37 0.2 - C. Manufacturing 17,746 8,921 10,716 7,377 44,760 9,514 40.5 -46.4 D. Electricity, Gas, Steam and Air Conditioning Supply 48 10 551 1,002 1,611 600 2.6 ** E. Water Supply; Sewerage, Waste Management and 16 - 14 80 110 - - -100.0 Remediation Activities F. Construction 1,384 10 - 1,999 3,393 66 0.3 -95.2 G. Wholesale and Retail Trade; Repair of Motor Vehicles and 184 56 117 1,043 1,400 1,904 8.1 934.8 Motorcycles H. Transportation and Storage 4,942 15,834 3,860 356 24,992 804 3.4 -83.7 I. Accommodation and Food Service Activities 2,091 32 582 1,049 3,754 284 1.2 -86.4 J. Information and Communication 212 243 594 535 1,584 2,986 12.7 ** K. Financial and Insurance Activities - - 110 14 124 5 0.0 - L. Real Estate Activities 2,666 40 3,045 10,736 16,487 3,147 13.4 18.0 M. Professional, Scientific and Technical Activities 20 - 42 23 85 318 1.4 ** N. Administrative and Support Service Activities 6,732 11,034 10,346 10,129 38,241 3,713 15.8 -44.8 O. Public Administration and Defense; Compulsory Social - - 1,574 - 1,574 - - - Security P. Education 5 - 7 - 12 - - -100.0 Q. Human Health and Social Work Activities - - 159 1,080 1,239 49 0.2 - R. Arts, Entertainment and Recreation 13 - - 20 33 14 0.1 7.7 S. Other Service Activities 17 - 58 45 120 19 0.1 11.8 Total 36,130 36,572 32,100 35,488 140,290 23,472 100.0 -35.0 Dash (-) is equivalent to zero **Growth rates greater than 1,000 a/ The 2009 Philippine Standard Industrial Classification (PSIC) is adopted in classifying the industry. r - Revised Note: Details may not add up to totals due to rounding. Sources: Authority of the Freeport Area of Bataan (AFAB), Board of Investments (BOI), BOI-Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM), Clark Development Corporation (CDC), Cagayan Economic Zone Authority (CEZA), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA).

31 Approved Foreign Investment, First Quarter 2021

TABLE 12 Total Approved Foreign and Filipino Investments in the Information and Communications Technology (ICT) Industry by Investment Promotion Agency at Current Prices: First Quarter 2020 to First Quarter 2021 (in million PhP)

2020 Agency 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Filipino Foreign Total Filipino Foreign Total Filipino Foreign Total Filipino Foreign Total

AFAB 1.4 0.9 2.3 45.6 0.0 45.7 58.8 1.2 60.0 - - - BOI 2.9 4.6 7.4 - - - 21.9 15.0 36.9 - 2.4 2.4 BOI BARMM ------11.3 3.0 14.3 CDC 28.0 5.0 33.0 - - - 0.5 3.7 4.2 1.0 12.4 13.4 CEZA 3.9 9.1 13.0 - 50.0 50.0 - 50.0 50.0 6.2 0.8 7.0 PEZA 466.2 3,059.3 3,525.5 3.9 8,350.2 8,354.1 79.2 3,386.5 3,465.7 25.9 3,162.1 3,187.9 SBMA - - - 0.3 - 0.3 0.0 1.0 1.0 1.8 1.2 3.0 Total 502.3 3,078.9 3,581.1 49.8 8,400.3 8,450.1 160.4 3,457.4 3,617.8 46.2 3,181.9 3,228.1 % Share to Total 14.0 86.0 100.0 0.6 99.4 100.0 4.4 95.6 100.0 1.4 98.6 100.0

2021 Growth Rate (%) Agency 1st Quarter Q1 2020 - Q1 2021 Filipino Foreign Total Filipino Foreign Total

AFAB - - - -100.0 -100.0 -100.0 BOI 113.7 4,709.8 4,823.5 ** ** ** BOI BARMM ------CDC 8.5 8.9 17.4 -69.6 77.6 -47.4 CEZA - - - -100.0 -100.0 -100.0 PEZA 28.9 636.5 665.4 -93.8 -79.2 -81.1 SBMA 17.3 - 17.3 - - - Total 168.5 5,355.1 5,523.6 -66.5 73.9 54.2 % Share to Total 3.1 96.9 100.0 Dash (-) is equivalent to zero **Growth rates greater than 1,000

TABLE 13 Total Approved Foreign Investments in the Information and Communication Technology (ICT) and Non-ICT Industry by Investment Promotion Agency at Current Prices: First Quarter 2020 to First Quarter 2021 (in million PhP)

2020 Agency 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Non-ICT ICT TOTAL Non-ICT ICT TOTAL Non-ICT ICT TOTAL Non-ICT ICT TOTAL

AFAB - 0.9 0.9 - 0.0 0.0 - 1.2 1.2 393.0 - 393.0 BOI 13,358.6 4.6 13,363.2 5,258.0 - 5,258.0 10,615.7 15.0 10,630.7 18,476.4 2.4 18,478.8 BOI BARMM ------3.0 3.0 CDC 2,248.2 5.0 2,253.1 13.6 - 13.6 9.8 3.7 13.5 280.3 12.4 292.7 CEZA 1,090.5 9.1 1,099.6 7.5 50.0 57.5 - 50.0 50.0 52.8 0.8 53.6 PEZA 9,256.5 3,059.3 12,315.8 1,755.5 8,350.2 10,105.7 16,890.0 3,386.5 20,276.5 13,869.2 3,162.1 17,031.3 SBMA 110.5 - 110.5 25.8 - 25.8 59.5 1.0 60.5 233.0 1.2 234.2 Total 26,064.3 3,078.9 29,143.2 7,060.4 8,400.3 15,460.7 27,575.1 3,457.4 31,032.5 33,304.7 3,181.9 36,486.6

% Share to Total 89.4 10.6 100.0 45.7 54.3 100.0 88.9 11.1 100.0 91.3 8.7 100.0

2021 Growth Rate (%) Agency 1st Quarter Q1 2020 - Q1 2021 Non-ICT ICT TOTAL Non-ICT ICT TOTAL

AFAB 39.4 - 39.4 - -100.0 ** BOI 2,131.0 4,709.8 6,840.8 -84.0 ** -48.8 BOI BARMM ------CDC 348.4 8.9 357.3 -84.5 77.6 -84.1 CEZA 49.1 - 49.1 -95.5 -100.0 -95.5 PEZA 11,550.2 636.5 12,186.6 24.8 -79.2 -1.0 SBMA 76.4 - 76.4 -30.8 - -30.8 Total 14,194.4 5,355.1 19,549.6 -45.5 73.9 -32.9 % Share to Total 72.6 27.4 100.0 Dash (-) is equivalent to zero **Growth rates greater than 1,000 Note: Details may not add up to totals due to rounding. Sources: Authority of the Freeport Area of Bataan (AFAB), Board of Investments (BOI), BOI-Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM), Clark Development Corporation (CDC), Cagayan Economic Zone Authority (CEZA), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA).

32 Approved Foreign Investment, First Quarter 2021

TABLE 14 Total Approved Foreign and Filipino Investments in the Information and Communications Technology by Sub-Industry at Current Prices: First Quarter 2020 to First Quarter 2021 (in million PhP)

2020 Sub-industry 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Filipino Foreign Total Filipino Foreign Total Filipino Foreign Total Filipino Foreign Total

Information and 1.4 85.1 86.5 49.5 139.7 189.2 9.4 170.5 179.9 13.7 65.0 78.7 Communication IT Services 500.9 2,993.7 3,494.7 0.4 8,260.6 8,260.9 151.0 3,266.7 3,417.7 32.5 3,116.8 3,149.4 Manufacturing ------Trade ------20.1 20.1 - - - Total 502.3 3,078.9 3,581.1 49.8 8,400.3 8,450.1 160.4 3,457.4 3,617.8 46.2 3,181.9 3,228.1 % Share to Total 14.0 86.0 100.0 0.6 99.4 100.0 4.4 95.6 100.0 1.4 98.6 100.0

2021 Growth Rate (%) Sub-industry 1st Quarter Q1 2020 - Q1 2021 Filipino Foreign Total Filipino Foreign Total

Information and 118.7 4,578.0 4,696.7 ** ** ** Communication IT Services 49.8 777.1 826.9 -90.1 -74.0 -76.3 Manufacturing - - - - Trade - - - - Total 168.5 5,355.1 5,523.6 -66.5 73.9 54.2 % Share to Total 3.1 96.9 100.0 Dash (-) is equivalent to zero **Growth rates greater than 1,000

TABLE 15 Projected Employment from Approved Foreign and Filipino Investments in the Information and Communication Technology (ICT) by Sub-Industry: First Quarter 2020 to First Quarter 2021

Share to Growth Rate (%) 2020 2021 Sub-industry Total (%) Q1 2020 - Q1 Q2 Q3 Q4 Total Q1 Q1 2021 Q1 2021

Information and 212 243 721 534 1,710 2,986 44.5 ** Communication IT Services 6,472 11,013 10,167 9,404 37,056 3,723 55.5 -42.5 Manufacturing ------Trade - - 46 - 46 - - Total 6,684 11,256 10,934 9,938 38,812 6,709 100.0 0.4 Dash (-) is equivalent to zero **Growth rates greater than 1,000 Note: Details may not add up to totals due to rounding. Sources: Authority of the Freeport Area of Bataan (AFAB), Board of Investments (BOI), BOI-Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM), Clark Development Corporation (CDC), Cagayan Economic Zone Authority (CEZA), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA).

33 PHILIPPINE STATISTICS AUTHORITY

DENNIS S. MAPA, Ph.D. Undersecretary National Statistician and Civil Registrar General

VIVIAN R. ILARINA Assistant National Statistician Macroeconomic Accounts Service

SATELLITE ACCOUNTS DIVISION

GERALD JUNNE L. CLARIÑO Chief Statistical Specialist Satellite Accounts Division

Technical Staff

Lead:

KRISTINA B. YASOÑA JOHN LIBBY A. PIO

Other Technical Staff:

ALMA S. BELLO STEPHANIE ROSE R. MOSCOSO CARLYN C. PALENCIA ANGELICA E. SAMARTINO PRECIOUS JOY B. PAGULAYAN MARIO M. MARPA