Investment pledges received by the government’s investment promotion agencies climbed by 28 percent in the first six months of 2024 to P1.024 trillion from P797.70 billion a year ago, data from the Philippine Statistics Authority show.
Approved foreign and Filipino investments in the second quarter climbed 125.4 percent from P317.23 billion a year ago. Filipino nationals contributed P525.51 billion or 73.5 percent of the total. Among the 13 investment promotion agencies , six reported foreign investment pledges in the second quarter, including the Board of Investments , BOI-Bangsamoro Autonomous Region in Muslim Mindanao , Clark Development Corp. , Philippine Economic Zone Authority , Subic Bay Metropolitan Authority and Zamboanga City Special Economic Zone Authority .
The electricity, gas, steam and air conditioning supply industry received the largest amount of approved foreign investments at P172.74 billion or 91.2 percent of the total approved FI in the second quarter.
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