Investments up 26% in Q3

Approved investments of foreign and Filipino nationals reached billion in the third uarter of , a percent increase from billion in the same period last year, the ational tatistical oordination oard ( ) said in a report

Filipino nationals continued to domi nate investments approved during the uarter, sharing percent or bil lion worth of investment pledges, pointed out

ulk of the investments are intended to finance activities in electricity, gas, steam and airconditioning supply, contributing billion and with a share of percent, followed by real estate activities at billion or percent share, and accommodation and food service activi ties at billion or percent share

eanwhile, total approved foreign in vestments (FI) for the first nine months of

2013 reached P126.5 billion, more than doubled from P58.9 billion recorded in the same period last year.

The approved FIs emanated from the seven investment promotion agencies (IPAs), namely: Board of Investments (BOI), Clark Development Corp. (CDC), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA) as well as the Authority of the Freeport Area of Bataan (AFAB), BOI-Autonomous Region of Muslim Mindanao (BOIARMM), and Cagayan Economic Zone Authority (CEZA).

In the third quarter alone, FIs grew 86.6 percent to P33.1 billion, higher than the P17.7 billion recorded in the same period last year.

NSCB secretary general Jose Ramon G. Albert said the top three prospective investing countries in the third quarter include the British Virgin Islands, Japan, and the Netherlands.

British Virgin Islands topped the list, pledging P10.3 billion or 31.1 percent share during the quarter. Japan and the Netherlands committed P5.9 billion and P4.4 billion, or 18 percent and 13.2 percent of the total approved FI, respectively, in the third quarter.