Philippine investment approvals rise over sixfold in Q3 2024

Investment approvals in the Philippines surged over six times in the third quarter of 2024, reaching P541.29 billion. Local investors contributed nearly 73% of this total, marking a significant increase from P84.29 billion in the same period last year. Foreign investments also rose sharply, totaling P146.75 billion, a 434.4% increase from P27.46 billion in 2023. The manufacturing sector received the largest share of these foreign investments, followed by electricity supply and real estate. South Korea was the top source of foreign investments, contributing P53.72 billion. The Calabarzon region attracted the most investment, followed by the Bicol Region and Central Luzon.