Connect with us

Hi, what are you looking for?


Q3 foreign pledges drop from year-ago levels

By Marissa Mae M. Ramos, Researcher

INVESTMENT PLEDGES made by foreign companies in the third quarter rebounded from a nine-quarter low in the second quarter, but remained significantly lower compared with the same period last year, data from the Philippine Statistics Authority (PSA) showed.

Approved foreign investment pledges amounted to P31.03 billion in the third quarter, double the P15.46 billion in the previous quarter, but 83% lower than the P182.44 billion in the same three months in 2019. This represents the amount of foreign-led projects given the go signal by the country’s seven investment promotion agencies (IPAs).

The year-on-year drop in the third quarter was the biggest since the 84.4% slump in the third quarter of 2009.

For the first nine months of 2020, the approved pledges reached P75.64 billion, 72.8% lower than the P278 billion during the same period a year ago.

Meanwhile, combined pledges of foreigners and Filipinos approved by IPAs totaled P176.55 billion, 65.8% less than the P515.71 billion a year ago. Domestic pledges reached P145.52 billion in the third quarter, accounting for 82.4% of the total.

Should these commitments materialize, foreign and local investments pledged in the third quarter were estimated to generate 32,100 jobs, down 36.6% from the projected additional employment of 50,628 a year ago.

Only nine of the 17 regions recorded foreign pledges in the third quarter. Of these, Soccsksargen got the highest share with 31.3% or P9.73 billion, followed by the National Capital Region’s 29.3% (P9.1 billion), Calabarzon’s 16.8% (P5.22 billion), and Central Luzon’s 11.2% (P3.48 billion).

Among the seven IPAs monitored by the PSA, the Philippine Economic Zone Authority and the Board of Investments got the bulk of foreign pledges with 65.3% and 34.3% shares of the total, respectively, or P20.28 billion and P10.63 billion.

Mainland China was the biggest source of investment commitments during the period with P9.58 billion, around eight times more than the P1.24 billion in the third quarter of 2019 and accounting for 30.9% of the total. It was followed by the United States with P7.16 billion (23.1% share) and the United Kingdom with P4.76 billion (15.3% share).

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



TikTok is expected to ride out the advertising slowdown, as the Chinese-owned social media titan becomes an outlier to the wider industry slowdown. According...


The average start-up loan has fallen over 138 percent in the past year to just over £142k, from £339k in 2021. Thats according to...


The government risks “sleepwalking” into a food supply crisis unless it provides crucial support for British farmers struggling with the soaring cost of fuel,...


Britain’s retailers benefited from a November sales boost fuelled by Black Friday discounts and colder weather as consumers bought winter coats, hot water bottles...


The biggest sector of the economy remained in a downturn last month as new orders continued to fall owing to the cost of living...


1 of 2 AFTER all their hard work in topping a difficult group and matching the Croatians for 120 minutes, Japan crumbled in the...

You May Also Like


The minute that any question pops into your head, you can simply ask Google. No longer do we have to pour over books and...


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


Browsing history makes referring to sites and pages you’ve visited in the past seamless. It’ll help you recall what page you checked out on...


Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.