• Foreign investment pledges approved by investment promotion agencies (IPAs) surged by more than 127 percent to P394.45 billion in the fourth quarter of 2023 from P173.61 billion a year ago amid the country’s strong economic performance, according to the Philippine Statistics Authority (PSA).
  • Of the total approved foreign investments for the fourth quarter of 2023, Netherlands accounted for the highest investment commitment amounting to P345.76 billion or 87.7 percent.
  • This was followed by Japan at P31.37 billion for an eight percent share and Singapore at P4.99 billion or 1.3 percent.
  • The PSA said these investments are expected to generate 28,529 jobs, down by 25.4 percent from the 38,256 expected employment in the same quarter of 2022.