pledged investments in 2017, lowest in more than a decade

Philippine ANALYST March 2018BUSINESS

55

BUSINESS

Pledged investments in 2017, lowest in more than a decadeThe combined foreign investment pledges to the 7 investment promotion agencies (IPAs) sharply decreased by 51.8% in 2017. This is the lowest data reported in 12 years since the P95.8 billion recorded in 2005.

Data from the Philippine Statistics Authority (PSA) showed that foreign investment commitments to the IPAs amounted to P105.6 billion last year, way below than

the P219 billion registered during 2016. The PSA data covered pledges approved by the IPAs, namely Board of Investments (BOI); Clark Development Corp. (CDC); Philippine Economic Zone Authority (PEZA); and Subic Bay Metropolitan Authority (SBMA). Also included are Authority of the Freeport Area of Bataan (AFAB); BOI-Autonomous Region of Muslim Mindanao (BOI-ARMM); and Cagayan Economic Zone Authority (CEZA).

Mr. Michael Ricafort, economist at the Rizal Commercial Banking Corp., explained that “the drop in foreign investment pledges in 2017 may be attributed to the high base/denominator effects in previous years.” He added that the “tentativeness on investment” during the 5-month Marawi siege, as well as the U.S.’s “America First” policy have also affected the data. Meanwhile, Union Bank of the Philippines chief economist Ruben Carlo Asuncion said that “the way the government was dealing with different countries may have an impact on foreign investments.”

In terms of total approved foreign investment by country, Japan was the Philippines’ largest foreign investor in 2017, with P32 billion in committed investment. Japan’s investment was accounted for 30.3% of the foreign investment pledges. This was followed by Taiwan (P10.8 billion); Singapore (P10.6 billion); Netherlands (P9.6 billion); and U.S. (P8.7 billion).

On the other hand, the manufacturing industry received the largest amount of foreign investments commitment. It posted P55 billion in investment pledges – 52.1% of the total foreign investment

pledges. The real estate industry followed with P22 billion, then the administrative and support services activities with P13.9 billion.

According to the PSA, there were around 110,800 jobs expected to be generated on the back of the pledged investments.

As for the 4Q2017 period, foreign investment pledges fell by 82.8% to P21.6 billion from P125.7 billion in the same period in 2016. Japan was the largest foreign investor in the period, with P5.2 billion pledged investments. Meanwhile, the manufacturing industry posted the largest committed investment received (P8.3 billion). Data from the PSA showed that there were some 19,100 jobs generated due to these investments in the period.

Data from the Philippine Statistics Authority showed that the combined foreign investment pledges to the 7 investment promotion agencies sharply decreased by 51.8%

to P105.6 billion in 2017 from P219 billion in 2016.

56BUSINESS


The decrease in foreign investment pledges could be due to the high base/denominator effects in previous years; Marawi siege; U.S.’s America First policy;

and the management of the current administration.

Foreign Investment Pledges by Country of Investor (in million pesos)

COUNTRY2017

1Q 2Q 3Q 4Q TOTAL

Australia 189.3 74.9 2,763.2 900.8 3,928.2

British Virgin Islands 326.1 416.8 428.1 903.8 2,074.8

Canada 147.2 417.0 257.7 21.5 843.3

Cayman Islands 354.7 135.8 21.3 216.8 728.6

China 282.3 1,069.6 715.2 266.8 2,333.9

Denmark 366.0 28.1 0.0 394.2

France 0.0 10.3 25.7 63.3 99.3

Germany 66.6 165.8 323.0 830.8 1,386.2

Hongkong 148.3 387.8 980.0 114.3 1,630.5

India 207.4 19.0 67.4 117.1 410.9

Japan 644.2 4,802.2 21,373.5 5,169.8 31,989.8

South Korea 739.6 668.6 407.5 1,555.1 3,370.8

Malaysia 182.7 31.3 189.3 70.0 473.2

Netherlands 6,223.3 1,430.0 558.1 1,425.4 9,636.9

Singapore 4,303.5 2,357.7 1,701.1 1,793.4 10,155.8

Switzerland 0.0 9.9 10.3 80.4 100.7

Taiwan 351.9 828.2 8,851.8 801.6 10,833.5

Thailand 180.0 0.0 - 183.6 363.6

UK 3,633.3 49.4 1,104.9 196.0 4,983.6

U.S. 2,434.2 2,005.0 1,090.8 3,211.1 8,741.0

Others 2,102.7 3,258.3 2,149.5 3,649.5 11,159.9

Total 22,883.3 18,166.0 43,018.3 21,571.1 105,638.7

FOREIGN INVESTMENT PLEDGES BY COUNTRY OF INVESTOR (IN MILLION PESOS)

Source: Philippine Statistics Authority (PSA)

57BUSINESS


COUNTRY2017

1Q 2Q 3Q 4Q TOTAL

A. Agriculture, Forestry and Fishing - 7.2 386.7 644.6 1,038.5

B. Mining and Quarrying - - - - -

C. Manufacturing 15,013.2 6,662.2 25,052.9 8,276.8 55,005.1

D. Electricity, Gas, Steam and Air Conditioning Supply 337.5 1,827.9 1,115.1 1,933.3 5,213.8

E. Water Supply; Sewerage, Waste Management and Remediation Activities - 43.5 - - 43.5

F. Construction 0.5 3.3 509.5 14.3 527.6

G. Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles 89.1 128.9 428.1 224.1 870.3

H. Transportation and Storage 96.3 910.0 312.6 45.3 1,364.1

I. Accommodation and Food Service Activities 232.3 44.8 653.5 691.9 1,622.5

J. Information and Communication 48.3 527.5 1,185.8 946.3 2,707.9

K. Financial and Insurance Activities 36.2 11.1 402.5 170.7 620.6

L. Real Estate Activities 3,431.4 3,827.3 10,096.9 5,065.3 22,420.9

M. Professional, Scientific and Technical Activities 16.8 48.0 1.1 85.3 151.2

N. Administrative and Support Service Activities 3,519.7 4,112.5 2,860.8 3,450.8 13,943.8

O. Public Administration and Defense; Compulsory Social Security - - - 0.9 0.9

P. Education 26.0 11.2 0.3 - 37.5

Q. Human Health and Social Work Activities - - - 0.6 0.6

R. Arts, Entertainment and Recreation 36.0 - 12.0 20.1 68.1

S. Other Service Activities - 0.6 0.6 0.7 1.9

Total 22,883.3 18,166.0 43,018.3 21,571.1 105,638.7

Agency2017

1Q 2Q 3Q 4Q TOTAL

AFAB - 1,085 92 246 1,423

BOI 16,303 5,505 3,819 3,311 28,938

BOI-ARMM - 23 1,500 1,523

CDC 1,585 979 3,412 1,674 7,650

CEZA 42 39 13 20 114

PEZA 14,183 24,134 18,515 13,110 69,942

SBMA 248 50 181 749 1,228

Total 32,361 31,815 27,532 19,110 110,818

FOREIGN INVESTMENT PLEDGES BY INDUSTRY (IN MILLION PESOS)

PROJECTED EMPLOYMENT FROM FOREIGN INVESTMENT PLEDGES



58BUSINESS


PH manufacturing growth to sustain double-digit recovery

Following its recovery in January and February, the Philippine manufacturing sector is expected to maintain double-digit growth in 2018, according to the National Economic Development Authority (NEDA).

Socioeconomic Planning Secretary Ernesto Pernia said that manufacturing output will sustain growth in 2018 due to strong consumer demand, higher government consumption, and continued gains in investments. The sustained momentum in global trade growth will also boost manufacturing growth, especially in the export-oriented sectors.

From the 9.7% decline in December 2017, the Monthly Integrated Survey of Selected Industries (MISSI) of the Philippine Statistics Authority (PSA) showed that the Volume of Production Index (VoPI) for manufacturing in January rose by 21.9% from 14.9% in January 2017. Meanwhile, the VoPI for February grew by 24.8% from 9.8% of the same month last year (see table on Year-on-year growth rates for production index). In

both months, the highest gainer is the printing sector which rose by 114.5% in January, and 108.1% in February, respectively.

The industry’s outlook for the current and succeeding quarters are optimistic because of improvements in production capacity, new product lines and enhanced marketing strategies. These factors will likely boost the manufacturing sector’s production and sales performance further. Additionally, NEDA Undersecretary for Policy and Planning Rosemarie Edillon said that “the increasing working-age population, rising productivity, improvement in business environment, and aggressive infrastructure development will also help spur growth in the sector.”

Meanwhile, increasing inflation remains a risk to manufacturing growth as it may lead to higher cost of production for firms. Some firms also remain cautious because of volatility in exchange rates, higher global commodity prices and weather disturbances. However, Sec. Pernia noted that the perceived risks will be offset by improved infrastructure being partly finance by the Tax Reform for Acceleration and Inclusion (TRAIN). Moreover, the succeeding packages of TRAIN intend to make the Philippines' tax regime internationally competitive.

JANUARY 2018 JANUARY 2017 FEBRUARY 2018 FEBRUARY 2017

Volume of Production Index (VoPI) 21.9 14.9 24.8 9.8

Value of Production Index (VoPI) 20.4 13.7 23.6 8.3

Manufacturing output will sustain growth in 2018 due to strong consumer demand, higher government consumption, and continued gains in investments.

Increasing inflation remains to be a risk to manufacturing growth.

YEAR-ON-YEAR GROWTH RATES FOR PRODUCTION INDEX


An operating environment conducive to innovation and entrepreneurship must be created and maintained to enhance the production capacity of local firms,

especially the micro, small and medium enterprises.

The industry’s outlook for the current and succeeding quarters are optimistic because of improvements in production capacity, new product lines and enhanced marketing strategies.

The perceived risks will be offset by improved infrastructure being partly finance by TRAIN.

59BUSINESS


With that, strategies are needed to be pursued to sustain the upward growth trajectory of the manufacturing sector. NEDA suggests that there is need to improve connectivity among production sites, processing areas and markets. The government must also continue to pursue bureaucratic and regulatory reforms to reduce the cost of doing business across all levels of government. Additionally, an operating environment conducive to innovation and entrepreneurship must be created and maintained to enhance the production capacity of local firms, especially the micro, small and medium enterprises.

PH tops 2018 Women in Business Survey

Coinciding with the celebration of International Women’s Day 2018, the annual Women in Business report of Grant Thornton Ltd. revealed that the Philippines has the highest number of women executives compared to other countries.

Based on the report, 47% of Filipino women in the business sector are holding senior management roles in 2018, from 40% in 2017 and 39% in 2016. This figure is significantly above the global average of 24.14%. Indonesia has the 2nd highest proportion of women in leadership with 43%, followed by Thailand with 42%. The Association of Southeast Asian Nations (ASEAN) had the highest regional average at 38.55%, followed by the Baltics with 36.29%. The report also attributed the country’s top rank to policies such as equal pay for men and women performing the same roles (80% of Filipino respondents), non-discriminatory policies for requirement (76%), paid parental leave (70%), and flexible hours (66%). Additionally, companies are motivated to implement

The report attributed the Philippines’ top rank to policies such as equal pay for men and women performing in the same roles, non-discriminatory policies for

requirement, paid parental leave, and flexible hours.

gender equality policies to attract and retain employees (65%) and to be parallel with their organizational values (65%). Grant Thornton surveyed 4,500 senior executives across 35 countries.

Grant Thornton noted that the Philippines is highly regarded for its gender diversity in senior management positions. According to Philippine Statistics Authority (PSA) data, while the labor force participation rate of women (46.2%) is lower than men (76.2%), higher-paying jobs (e.g. supervision, professional, service, and sales) are more likely to be done by women. Contrary to other ASEAN countries, gender pay gap is negative in the country, with women earning slightly more than their male counterparts on the average (see table on Gender Wage Gap in ASEAN member states).

However, beneath the national aggregates lie the glass ceilings and gender gaps that still persist across specific industries and occupations. While the country tops in the proportion of women in senior management positions, female representation drops in the highest positions in industry. According to World Bank data, the proportion of firms in the Philippines with female top managers declined from 32.7% to 29.9% from 2009-2015. Though, other ASEAN countries with exception to Lao PDR and Malaysia likewise decreased. Moreover, female participation in business ownership has been stagnant at 69% from 2009-2015. However, the country still has the largest proportion of firms with female participation in ownership compared to other ASEAN states (see table on Percent of firms with female top managers).

In the senior management level, equity in the promotion process ends at supporting roles (e.g. human resource officer, chief financial officer). Additionally, Filipino women in top executive positions are usually treasurers, corporate secretaries, and finance managers. Firms that have women as chair or president are normally in the retail, food, and pharmacy sectors.

Beneath the national aggregates lie the glass ceilings and gender gaps that still persist across specific industries and occupations.

Equity in the promotion process for women ends at supporting roles.

60BUSINESS


-3.2

3.5

12.1

13.9

26.5

27.4

-3.9

9.5

8.1

12.6

28.1

11.6

-10 -5 0 5 10 15 20 25 30

Philippines

Thailand

Myanmar

Vietnam

Singapore

Cambodia

Gender Wage Gap in ASEAN member states, 2000-2011

Early Years* Late Years**

COUNTRY FIRMS WITH FEMALE TOP MANAGER (% OF FIRMS) FIRMS WITH FEMALE PARTICIPATION IN OWNERSHIP (% OF FIRMS)

EARLIEST YEAR LATEST YEAR EARLIEST YEAR LATEST YEAR

Indonesia 31.2 (2009) 22.1 (2015) 42.8 (2009) 22.2 (2015)

Lao PDR --- 32.2 (2012) 39.3 (2008) 41.9 (2012)

Malaysia 8.7 (2007) 26.3 (2015) 13.1 (2007) 25.4 (2015)

Myanmar 29.5 (2014) 27.3 (2014)

Philippines 32.7 (2009) 29.9 (2015) 69.4 (2009) 69.2 (2015)

Vietnam 26.4 (2009) 22.4 (2015) 59.2 (2008) 51.1 (2015)

PERCENT OF FIRMS WITH FEMALE TOP MANAGERS, ASEAN, 2007-2015

Source: World Bank

Women should be involved in the decision-making process for policies concerning their welfare.

Source: Global Wage Database, International Labor Organization (ILO)

61BUSINESS


Meanwhile, the Mastercard Index of Women Entrepreneurs 2018 has ranked the Philippines 9th out of 57 countries as the best market for women entrepreneurs. However, the country’s 68.0 score shows that “there is no direct correlation between women’s advancement as entrepreneurs and the wealth and level of development of their economies,” the report stated. According to the Philippine Institute for Development Studies (PIDS), the Philippines has a favorable legal environment with landmark legislation to eliminate gender discrimination and institutionalize family-friendly policies. However, the implementation is constrained by lack of political support or lack of resources.

P&A Grant Thornton chairperson and CEO Ma. Victoria Españo said, “Diversity in every sense is good for business. It encourages different ways of thinking and opens up new opportunities for growth. This is particularly relevant in a rapidly changing global business environment, as a wide range of perspectives will help businesses to better analyze and navigate new landscapes.” It implies that while the existing environment for women in business is vibrant, there must also be female representation in chief-level positions, board memberships, and director positions – where the most important decisions are made. After all, women should be involved in the decision-making process for policies concerning their welfare.

MINING, OIL, & GAS

MGB team up with DOST for nickel research

After their collaboration in June 2017, the Department of Science and Technology (DOST) and the Mines and Geosciences Bureau (MGB) are advancing their research and development (R&D) for reduction parameter optimization of low-grade nickel laterites.

The MGB-Metallurgical Technology Division (MeTD) is partnering with the DOST-Philippine Council for Industry, Energy and Emerging Technology Research and Development (DOST-PCIEETRD) for a 2-year project entitled, “Pilot Scale Production of Nickel Pig Iron from Low-Grade Laterite Ore.” The project is expected to start on 2Q2018 and will be led by Engineer Bernardo Bitanga.

The project seeks the optimization of the reduction parameters of low-grade laterites, as well as the establishment of a pilot blast furnace testing for the nickel pig iron (NPI) production – a cheaper alternative to pure nickel using laterite nickel ores. This is the MGB’s response to the DOST’s directive to support research proposals through fund assistance.

The project was endorsed last year and had undergone review processes including division review; evaluation of the technical panel, management team, governing council and DOST ExeCom.

The project was also assessed in terms of technical feasibility, sustainability, financial viability, and its conformity to the DOST’s broadened 6P, - Patents, Publications, Policies, Products, Places, and People Services. The project was approved since it passaed all the criteria set by DOST-PCIEERD. Meanwhile, the pre-implementation meeting of the project had been conducted led by the DOST. As of now, the MGB is waiting for the DOST-PCIEETRD’s release of the memorandum of agreement.

Nickel pig iron is a low-cost ferronickel originated in China. It is a cheaper alternative to pure nickel utilizing laterite nickel ores that is used in stainless steel production. The alternative was developed as a response to high price of pure nickel. China imported most of the nickel-containing ore from Indonesia and the Philippines, but Indonesia has banned the export of ore in January 2014. Together with concentrations in the Philippines, laterite nickel ores account for almost 40% of the known world reserves.

The MGB is eyeing to present an additional project that will focus on a lower-cost hydrometallurgical process of extracting nickel as well as laterite ores’ potential rare earth contents. The bureau is serious on its pursuit to innovate technologies for mineral value addition of the country through research and development.

The government and mining firms should continue to invest in the exploration of nickel-rich areas in the Philippines. The outcome of the MGB and DOST’s project will not only strengthen and utilize the country’s R&D capabilities, but also pave way for a government policy on the development of downstream mining sector for rare earth elements.

The project seeks for the optimization of the reduction parameters of low-grade laterites, as well as the establishment of a pilot blast furnace testing for the nickel pig iron (NPI) production

– a cheaper alternative to pure nickel using laterite nickel ores.

The nickel pig iron was developed as a response to high price of pure nickel.

62BUSINESS


I.T. UPDATE

PH ranks 2nd least start-up friendly in Asia-Pacific

The Philippines is one of the least attractive countries for startup businesses in the Asia Pacific region. This is according to the report of consumer research group, ValuePenguin.

Based on the Best Countries in Asia-Pacific for Startups report, the Philippines ranked 11th among 12 countries in the region as the best location for startups, with a score of 7.81. This made the Philippines the 2nd most unfriendly country to startup companies. It was attributed to the country’s business climate issues such as cost of doing business and trust in public institutions.

Singapore topped the list as the most startup-friendly country in the Asia Pacific with a score of 4.1, followed by Hong Kong and Japan, which were tied for 2nd spot with a 4.7 score. Other countries that top the list were Taiwan (5.1), Malaysia (5.7), and South Korea (6.0) (see table on Best Countries for Startups in Asia-Pacific).

The ValuePenguin used data sets from the Economist, World Bank, World Economic Forum, tax consultancies and governments to determine the best countries for startups. The 12 Asia-Pacific countries were ranked based on 4 major categories:

h Economic Health, which measured GDP per capita, GDP growth rates, unemployment rate and financial inclusion;

h Cost of Doing Business, which ranked countries based on corporate taxes, 10-year government bond rates, cost of living ranking, salary expectation ranking and affordability of financial services ranking;

h Business Climate, which compared markets based on ease of doing business, internet access, number of commercial banks per 100,000 individuals, strength of public institutions, and availability of venture capital funding; and

h Labor Force Quality, which examined the countries’ workforce based on educational attainment.Among the categories, the Philippines ranked the lowest

in terms of economic health and business climate. The report showed that the country’s lowest score in economic health was due to the Philippines’ low bank penetration, low GDP per capita and high unemployment rate (see table on Economic Health Category.). In terms of Business Climate, the country ranked poorly in ease of starting a business, trust in public institutions, access to venture capital funding and market dominance.

Despite the low cost of living in the country, the Philippines still ranked 10th in the Cost of Doing Business category due to the high tax rates imposed on businesses. However, the Labor Force Quality (5th) of the Philippines was one of the highest in the region. This was attributed to the large percentage of Filipino adults who have secondary and tertiary education.

The Philippines was the 2nd most unfriendly country to startups companies in Asia Pacific.

1In the study, lower scores indicate better ranks

63BUSINESS


RANK COUNTRY OVERALL SCORE ECONOMIC HEALTH COST OF DOING BUSINESS BUSINESS CLIMATE LABOR FORCE QUALITY

1 Singapore 4.1 5.2 6.5 3.2 1.7

2 Hong Kong 4.7 5.6 6.8 2.8 3.7

2 Japan 4.7 4.6 7.8 3.7 2.7

4 Taiwan 5.1 7.5 3.7 4.4 5

5 Malaysia 5.7 6.4 6. 5.2 5.3

6 South Korea 6.0 5.6 7.5 6.7 4.3

7 China 6.6 4.0 6.8 6.7 9

8 India 7.1 7.2 4.7 7.5 9

9 Indonesia 7.3 8 5. 8 8.3

10 Thailand 7.3 6 6.3 8 9

11 Philippines 7.8 8.6 7.0 10.7 5

12 Vietnam 8.5 8 5.8 10 10.3

RANK COUNTRY TOTAL GDP (BILLIONS)

GDP GROWTH

UNEMPLOYMENT RATE

% OF ADULTS WITH A BANK

ACCOUNTGDP PER CAPITA COMPOSITE

SCORE

1 China $511,439 6.8% 3.9% 97.1% $8,123 4.0

2 Japan $4,884 1.70% 2.4% 96.6% $38,901 4.6

3 Singapore $306 3.5% 2.1% 96.5% $5,2962 5.2

4 Hong Kong $334 3.7% 2.9% 83.6% $43,741 5.6

5 South Korea $1,530 3.1% 3.3% 95.7% $27,539 5.65

6 Thailand $438 3.7% 1.0% 82.3% $5,910 6.0

7 Malaysia $310 5.8% 3.3% 84.1% $9,508 6.4

8 India $2,439 7.2% 6.1% 58.6% $1,710 7.2

9 Taiwan $571 2.8% 3.7% Unknown $25,893 7.5

10 Indonesia $1,011 5.1% 5.5% 45.3% $3,570 8.0

11 Vietnam $216 6.5% 2.3% 39.5% $2,171 8.0

12 Philippines $321 6.7% 5.0% 37.1% $2,951 8.6

BEST COUNTRIES FOR STARTUPS IN ASIA-PACIFIC

ECONOMIC HEALTH CATEGORY

Source: ValuePenguin, 2018

Source: ValuePenguin, 2018

Far better support is needed from government.

The Innovative Startup Act will provide assistance and support, such as tax breaks and grants, to innovative startups.

64BUSINESS


Although the Philippines and Vietnam ranked low on the list, the ValuePenguin noted that each startup has different preferences. Vietnam and the Philippines could be appealing to startup businesses since both countries have the lowest salary expectations in the region.

Meanwhile, Senator Paolo Benigno “Bam” Aquino IV emphasized the need for the government to offer support for startups, after the country’s poor performance in the report. “It’s important to give assistance to our Filipino entrepreneurs because they are the pillars of the economy. They generate jobs and livelihood, some even provide solutions to our country’s problems,” Sen. Aquino explained.

Sen. Aquino also renewed his call for the passage of Senate Bill No. 1532 or the Innovative Startup Act, of which he is the principal sponsor and author as chairman of the Committee on Science and Technology. The measure has been approved on 2nd reading on March 19, 2018. The

proposed bill will provide assistance and support, such as tax breaks and grants, to innovative startups. It will also give technical assistance and training to potential entrepreneurs.

If enacted into law, innovative startups will also benefit from free use of equipment, facilities, and other services from government agencies, such as testing and fabrication facilities. Startups will also get assistance in the patenting and licensing of their products from the Intellectual Property Office of the Philippines. New startups will also be exempted from paying local and national taxes in their first 2 years of operation. An “Innovative Startup Venture Fund” worth P10 billion will also be established to help startup entrepreneurs.

The negative performance of the Philippines in the report revealed that startup businesses in the country needs immense support from the government. Since technology startups are on the rise in the Philippines, the country should improve its tax incentives and ease of doing business to help startup businesses invest more in the country.

65BUSINESS


LIST OF BOI-REGISTERED PROJECTS DECEMBER 2017 -FEBRUARY 2018

INDUSTRY ACTIVITY PROJECT COST (IN PHP MILLION)

EQUITY LOCAL/FOREIGN

AGRICULTURE, FISHERY, & FORESTRY

Piña del Sol Phil., Inc. Producer of fresh pineapple fruits in Ormoc City, Leyte 158.8 100% Filipino

ELECTRICITY, WATER, AND GAS

Phil. Biochem Products, Inc.Renewable energy developer of biomass energy resources (28 Million liters /yr biodiesel production plant) in Km 21 East Service Rd., Brgy. Buli, Muntinlupa City

204.2 100% Filipino

Solar Philippines Commercial Rooftop Projects, Inc.Renewable energy developer of solar energy resources (140.40 MWp (104MWac) Concpecion Tarlac 2 Solar Power Project] in Brgys. Sta. Rosa and San Agustin, Concepcion, Tarlac

7,074.9 100% Filipino

Solar Philippines Commercial Rooftop Projects, Inc.Renewable energy developer of solar energy resources (293.76 MWp (200MWac) Concpecion Tarlac 2 Solar Power Project] in City of Tarlac and municipality of Concepcion, Tarlac

13,561.0 100% Filipino

Solar Philippines Commercial Rooftop Projects, Inc.Renewable energy developer of solar energy resources (146.88 MWp (100MWac) Tarlac Solar Power Project] in City of Tarlac and municipality of La Paz, Tarlac

6,881.6 100% Filipino

Solar Philippines Commercial Rooftop Projects, Inc. Renewable energy developer of solar energy resources (140.64 MWp (300MWac) Iba-Palauig 2 Solar Power Project] in Paluig, Zambales 18,986.1 100% Filipino

Solar Philippines Commercial Rooftop Projects, Inc. Renewable energy developer of solar energy resources (293.76 MWp (200MWac) Balayan Solar Power Project] in Balayan and Calaca, Batangas 13,561.0 100% Filipino

HOTEL, RESTAURANT, AND LEISURE SERVICES

STK-Prime Real Property Development Corp. Operator of tourist accommodation facility (Zion Hotel) in Brgy. Almanza, Las Pinas City 843.4 100% Filipino

Rockwell Land Corporation Operator of tourist accommodation facility (Aruga Hotel) located at Rockwell Center, Makati City 5,122.9 98.44% Filipino

MISCELLANEOUS MANUFACTURES

San Miguel Yamamura Asia Corporation Producer of glass containers 3,988.8 60% Filipino 40% Japanese

Connovate Philippines, Inc. Producer of housing component (high performance prescast wall panel) 37.3 100% Filipino

OFFSHORING AND OUTSOURCING

I-Asiatic Innovation Phils., Inc. Software development and IT services 18.0 100% Filipino

REAL ESTATE AND PROPERTY DEVELOPMENT

8990 Housing Development Corporation Developer of economic and low-cost housing project (Urban Deca Homes Marilao) 2,187.6 100% Filipino

Communities Cagayan, Inc. Developer of economic and low-cost housing project (Lumina Gran Europa - Horizontal) 171.4 100% Filipino

Household Development Corporation Developer of economic and low-cost housing project (Camella Dasmarinas at Island Park Phase 1 Expansion - Horizontal) 49.9 100% Filipino

Household Development Corporation Developer of economic and low-cost housing project (Lumina Tanza Phase 3 - Horizontal) 274.6 100% Filipino

Judson Development Corporation Developer of economic and low-cost housing project (Nova Vida Residences - horizontal) 81.3 80% Filipino

20% Chinese PROC

STORAGE AND WAREOUSING

Arendelle Cold Logistics, Inc. Logistics services proivder (Integrated Cold Chain Solutions) in Taguig City 1,751.8 100% Filipino

Eisberg Cold Logistics, Inc. Logistics services provider (Integrated Cold Chain Solutions) in Caloocan City 1,360.4 100% Filipino

TRANSPORT SERVICES

Archipelago Philippines Ferries Corporation (APCF) Domestic shipping operator (Catamaran RORO Pasenger Ferry - M/V Fast Cat M12, 1,020 GT) Batangas - Calapan vice-versa 432.7 100% Filipino

Archipelago Philippines Ferries Corporation (APCF) Domestic shipping operator (Catamaran RORO Pasenger Ferry - M/V Fast Cat M14, 1,020 GT) Matnog - San Isidro and vice-versa 432.7 100% Filipino

TOTAL 77,180.5

66BUSINESS


PEZA APPROVED PROJECTS -3rd QUARTER 2017

INDUSTRY ACTIVITY EQUITY LOCAL/FOREIGN ZONE

APPAREL AND TEXTILE MANUFACTURES

ZOOT SQUAD PHILIPPINES Manufacture of apparel and other goods 100% - American CARMELRAY INDUSTRIAL PARK II - SEZ

CHEMICAL AND CHEMICAL PRODUCTS

PILIPINAS KAO, INC. Manufacture of HCA (Hexyl Cinnamic Aldehyde) 100% - Japanese JASAAN MISAMIS ORIENTAL - SEZ

SOLDERCOAT NARITA PHILS. INC. Manufacture of tin plate and tin ball 99.99% - Japanese LAGUNA TECHNOPARK - SEZ

ELECTRONICS

ATGLOBAL ELECTRONICS MFG., CORP Development and manufacture for motorcycle GPS devices/tracking systems

50% - Spanish 34% - Filipino 16% - Chinese

LAGUNA TECHNOPARK - SEZ

AUTOMATED TECHNOLOGY (PHIL.) INC.Produce RF, Microwave and Millimeter wave devices, components, subsystems and systems, discrete & semiconductor products

100% - Caymanian LIGHT INDUSTRY & SCIENCE PARK I - SEZ

BAEK GEUM PHILIPPINES CORP. Increase the production capacity of its radar detector project 100% - South Korean CALAMBA PREMIERE INTERNATIONAL PARK - SEZ

BELTONTOTOKU PHILIPPINES, INC. Manufacture of coil parts (non-HDD project) 99.99% - Hong Kong CARMELRAY INDUSTRIAL PARK II - SEZ

BELTONTOTOKU PHILIPPINES, INC. Manufacture of electronic components for medical devices 99.99% - Hong Kong CARMELRAY INDUSTRIAL PARK II - SEZ

BOJIE MANUFACTURING CORPORATION Manufacture of Seasonal Lights 100% - Taiwanese FIRST CAVITE INDUSTRIAL ESTATE - SEZ

BROTHER INDUSTRIES (PHILIPPINES), INC. Manufacture of BH17 ink cartridge, Mini17 multi-function printer, and mold parts 100% - Japanese FIRST PHILIPPINE INDUSTRIAL PARK

- SEZ

CLAYMOUNT ASSEMBLIES PHILIPPINES, INC. Manufacture of GE and Nessus cables 99.99% - Dutch CALAMBA PREMIERE INTERNATIONAL PARK - SEZ

DANAM PHILIPPINES, INC. Assembly of PHASEO (ABL) - regulated power supply 99.99% - South Korean CAVITE ECONOMIC ZONE

DYSON ELECTRONICS PTE. LTD. Manufacture of V7 and V8 Dyson Digital Motors (DDMs) and V7 and V8 Vacuum Cleaners 100% - Singaporean CARMELRAY INDUSTRIAL PARK II - SEZ

ELECSYS MFG CORP. Assembly of components for LCD related products such as air-conditioning, controllers, modem, etc.

49% - Australian 49% - Filipino

2% - South KoreanCAVITE ECONOMIC ZONE

FITC LED LIGHT MANUFACTURING CO. AND GENERAL SERVICES CORP.

Production of wiring harness for electronic and electrical devices 99% - Filipino CAVITE ECONOMIC ZONE

FORT WAYNE WIRE DIE (PHILIPPINES), INC. Manufacturing of rough drill 99% - American FIRST PHILIPPINE INDUSTRIAL PARK - SEZ

II-VI LASER ENTERPRISE PHILIPPINES, INC. Engage in fiber-optic components 99% - Dutch CALAMBA PREMIERE INTERNATIONAL PARK - SEZ

INTEGRATED MICRO-ELECTRONICS, INC. Interchangeable lens assembly 100% - American LAGUNA TECHNOPARK - SEZ

IONICS EMS, INC. Manufacture of PCBA for fan motor for servers (Inlet Portion) 98.12% - Filipino LIGHT INDUSTRY & SCIENCE PARK I - SEZ

KAIFA TECHNOLOGY (PHILIPPINES), INC. Manufacture of semiconductor devices, power modules, integrated circuits, printed circuit board, and assembly parts 99.99% - Hong Kong LIMA TECHNOLOGY CENTER - SEZ

KINPO ELECTRONICS (PHILIPPINES), INC. Manufacture of hair dryer 99.99% - Singaporean FIRST PHILIPPINE INDUSTRIAL PARK II - SEZ

MAY & CHRISTE PHILIPPINES INC. Manufacture of electric bell CARMELRAY INDUSTRIAL PARK II - SEZ

MDS CIRCUIT TECHNOLOGY, INC. Software development, electronics circuit designing and Printed Wiring Board designing using computer 99.99% - Japanese ASIAN STAR BUILDING

MURAMOTO AUDIO-VISUAL PHILS., INC. Manufacture of automotive camera cleaner 100% - Japanese MACTAN ECONOMIC ZONE

NOBLELINK INC. Manufacture and/or assembly of camera module devices, parts and accessories

99.98% - South Korean CAVITE ECONOMIC ZONE

P. IMES CORP. (PHILIPPINE INTERNATIONAL MANUFACTURING AND ENGINEERING SERVICES CORP.)

IC Card vending and Collecting Unit (ICVC) Assembly 99.99% - Japanese CAVITE ECONOMIC ZONE


LED lighting fixture 99.99% - Japanese CAVITE ECONOMIC ZONE


Spring brush assembly 99.99% - Japanese CAVITE ECONOMIC ZONE

QFLEX PHILIPPINES INC. Manufacturing and testing of smart grid-array photovoltaic modules 100% - Filipino LAGUNA TECHNOPARK - SEZ

ROHM ELECTRONICS PHILIPPINES, INC. Testing and taping of micro electro-mechanical systems (MEMS) sensors

65% - Singaporean 35% - Japanese

PEOPLE'S TECHNOLOGY COMPLEX - SEZ

67BUSINESS


TAKANE ELECTRONICS (PHILIPPINES), INC. Manufacture of various types of wire harness 99.99% - Japanese CARMELRAY INDUSTRIAL PARK II - SEZ

FOOD AND BEVERAGE MANUFACTURES

DEL MONTE PHILIPPINES, INC. Production of peeled, cut fresh frozen pineapples 99.99% - Panamanian BUKIDNON AGRO-RESOURCES EXPORT ZONE

FIRST PANABO TROPICAL FOODS CORP. Engage in the processing of ripe cardava banana and other tropical fruits 100% - Filipino ANFLO INDUSTRIAL ESTATE

FURNITURE AND FIXTURE

VASACRAFTS COMPANY INC. Manufacture of furniture and accessories 99.97% - Swedish MACTAN ECONOMIC ZONE II - SEZ

IT AND IT-ENABLED SERVICES

SANYUTECHNOS PHILIPPINES INC. Engineering and architectural design services, consultancies, etc. 99.99% - Japanese 6788 AYALA AVENUE BLDG.

MACHINERY AND EQUIPMENT

MECHATRO TECH PHILIPPINES, INC. Designing, manufacturing, installation, calibration and maintenance of industrial robotics and automation machinery 99.99% - Hong Kong FIRST PHILIPPINE INDUSTRIAL PARK

- SEZ

NIKKOSHI PHILIPPINES CORPORATION Manufacture of energy harvesting (EH) generator 99.99% - Japanese LAGUNA TECHNOPARK - SEZ

METAL INDUSTRIES

JIN-HUNG TECHNOLOGY PHILS. CORP. Manufacture of bracket sealing 99.94% - South Korean GOLDEN MILE BUSINESS PARK - SEZ

TEAMQUEST TECHNOLOGY INC.Manufacture and fabrication of machinery components, automotive and aerospace components; PCB and BIB (burn-in board) assembly and wire harnessing

100% - Filipino FIRST CAVITE INDUSTRIAL ESTATE - SEZ

TECHNIK SUPERIOR METAL PRESS PRODUCTS INC. Manufacture of metal press products 100% - Filipino CAVITE ECONOMIC ZONE

MISCELLANEOUS MANUFACTURES

EHS LENS PHILIPPINES INC. Mounting process for spectacles (corrective lens and frame) and accessories

70% - Dutch 30% - Filipino

FIRST PHILIPPINE INDUSTRIAL PARK - SEZ

PAPER AND PAPER PRODUCTS

LINOCRAFT PRINTERS PHILIPPINES INC. Manufacture of packaging materials and printing services 99.99% - Malaysia LIGHT INDUSTRY & SCIENCE PARK III - SEZ

OFFSHORING AND OUTSOURCING

ALTEGRA HEALTH PHILIPPINES, INC. Business process outsourcing (BPO) services 99% - Dutch E-SQUARE I.T. PARK

AMAZON OPERATION SERVICES PHILIPPINES, INC. Call center operations 99.99% - American CBP-IT PARK

APPEN SERVICES PHILIPPINES Software development services 100% - Australian SUNTECH IPARK

ASTREYA PHP Business process outsourcing (BPO) services 100% - American E-SQUARE I.T. PARK

AXA SHARED SERVICES CENTRE PHILIPPINES INC. Software development services 99.99% - Hong Kong GT TOWER INTERNATIONAL

BLUEPRINT BUSINESS SOLUTION BPO CORP. Business process outsourcing (BPO) services 100% - Filipino MACTAN ECONOMIC ZONE II - SEZ

BOEHRINGER INGELHEIM BUSINESS SERVICES PHILIPPINES, INC. Business process outsourcing (BPO) services 99.99% - German AEON CENTRE

CASSAVA CONSULTANCY SERVICES, INC. Business process outsourcing (BPO) services 100% - Malaysian ONE GLOBAL PLACE

CBE COMPANIES PH, INC. Business process outsourcing (BPO) services 99.99% - American W FIFTH AVENUE

COGNIZANT TECHNOLOGY SOLUTIONS PHILIPPINES, INC. Call center operations 99.98% - American NORTHGATE CYBERZONE

COGNIZANT TECHNOLOGY SOLUTIONS PHILIPPINES, INC. Call center operations 99.98% - American THE PARAGON CORPORATE CENTRE

CONCENTRIX DAKSH SERVICES PHILIPPINES CORPORATION Business process outsourcing (BPO) and call center operations 99% - Dutch BRIDGETOWNE

CONCENTRIX DAKSH SERVICES PHILIPPINES CORPORATION Business process outsourcing (BPO) and call center operations 99% - Dutch THE MACTAN NEWTOWN

CONTEXTA GLOBAL, INC. Call center operations 99.99% - American UNIONBANK PLAZA

CONVERGYS PHILIPPINES INC. Call center operations 100% - Australian SM CITY CLARK IT PARK

CTC BPO INC. Business process outsourcing (BPO) services 99.99% - Taiwanese JY SQUARE I.T. CENTER III

CTC BPO INC. Business process outsourcing (BPO) services 99.99% - Taiwanese MABUHAY I.T. PARK

EMAPTA VERSATILE SERVICES INC. Business process outsourcing (BPO) services96% - Australian

3% - Filipino 1% - Japanese

6780 AYALA AVENUE BLDG.

EZY SERVICE CENTRE CORPORATION Business process outsourcing (BPO) services 100% - Singaporean ROBINSONS-EQUITABLE TOWER

GIANT INTERNATIONAL SOFTWARE STATION INC. Software development services 100% - Chinese BAGUIO CITY ECONOMIC ZONE

68BUSINESS


ING BUSINESS SHARED SERVICES B.V. Business process outsourcing (BPO) services 99% - Dutch E-SQUARE I.T. PARK

INGRAM MICRO PHILIPPINES BPO LLC. Business process outsourcing (BPO) and call center operations 100% - American MCKINLEY HILL CYBERPARK

KMC MAG SOLUTIONS, INC. Business process outsourcing (BPO) services 92% - Hong Kong 6% - American;2% V-CORPORATE CENTRE

KMC MAG SOLUTIONS, INC. Business process outsourcing (BPO) services 92% - Hong Kong 6% - American;2% CYBER SIGMA

LEGALMATCH PHILIPPINES, INC. Business process outsourcing (BPO) services 99.92% - American FLB CORPORATE CENTER

LIZARDBEAR TASKING INC. Business process outsourcing (BPO) services 99.8% - American TWENTY-FOUR SEVEN MCKINLEY

LOGISCALE, INC. Business process outsourcing (BPO) services 99.99% - Dutch 6780 AYALA AVENUE BLDG.

MERCEDES-BENZ GROUP SERVICES PHILS., INC. Business process outsourcing (BPO) services 99.99% - German CLARK - SEZ

NNIT PHILIPPINES INC. Software development services 99.99% - Danish 2251 IT Hub

OAMPI INC. Call center operations 99.98% - American 6780 AYALA AVENUE BLDG.

OPERATIONS HUB CONTROL, INC. Business process outsourcing (BPO) services 99.99% - Emirati E-SQUARE I.T. PARK

PHILIPPINE COMMUNICATIONS MANAGEMENT S.E. ASIA INC. Knowledge-based and computer-enabled support services 64% - Filipino

36% - Japanese CEBU I.T. PARK

RAPIDVISA PHILIPPINES INC. Business process outsourcing (BPO) services 99.97% - American CEBU I.T. PARK

REALPAGE (PHILIPPINES) INC. Business process outsourcing (BPO) services 99.99% - American CBP-IT PARK

SATELLITE OFFICE SOLUTIONS PTY. LTD. Business process outsourcing (BPO) services 100% - Australian E-SQUARE I.T. PARK

SATELLITE OFFICE SOLUTIONS PTY. LTD. Business process outsourcing (BPO) services 100% - Australian UPTOWN BONIFACIO

SATELLITE OFFICE SOLUTIONS PTY. LTD. Business process outsourcing (BPO) services 100% - Australian V-CORPORATE CENTRE

TALENTSCOUT, INC. Business process outsourcing (BPO) services 98% - American E-SQUARE I.T. PARK

TANDA WORKFORCE SOLUTIONS INC. Development of cloud/internet-based software system 99.36% - Singaporean OCTAGON I.T. BLDG.

TCL.ONLINE SERVICES INCORPORATED Call center operations 99.99% - Hong Kong NORTHGATE CYBERZONE

TECHNOGLOBAL TEAM, INC. IT-enabled, Business process outsourcing (BPO) and call center operations 99.99% - Hong Kong ECOTOWER

TSD GLOBAL PHILIPPINE BRANCH Call center operations 100% - American MCKINLEY HILL CYBERPARK

VIATECHNIK INC. 3D modelling and software development services 99.99% - American DPC PLACE BUILDING

WESERV SYSTEMS INTERNATIONAL, INC. Business process outsourcing (BPO) services 99.99% - Singaporean CBP-IT PARK

WNS GLOBAL SERVICES PHILIPPINES, INC. Call center operations 99.99% - Dutch CAPELLA IT CENTER

OTHER BUSINESS SERVICES

APEX 5678 ROCKWELL, INC. Site Hosting Services/provision of building space, electric, data and telecommunications connections etc. 99.99% - Hong Kong CYBERSCAPE ALPHA

APEX C SIGMA, INC. Offer Site Hosting operations to KMC Mag Solutions, Inc. 99.99% - Hong Kong CYBER SIGMA

MAKINO PHILIPPINES INC. Engage in the precision engineering & machining solutions and services 99.99% - Singaporean LAGUNA TECHNOPARK - SEZ

REAL ESTATE ANFD PROPERTY DEVELOPMENT

AGC REALTY CORPORATION Additional warehouse facility 100% - Filipino SUNTRUST ECOTOWN TANZA

BL CBP VENTURES, INC. Construction of an IT building as Latitude Corporate Center 100% - Filipino CBP-IT PARK

CONCORD FACILITY PROVIDER INC. Establish, operate, and maintain a factory/warehouse building as Concord Building 1 100% - Filipino LIMA TECHNOLOGY CENTER - SEZ

JEDIC REALTY PHILIPPINES CORPORATION Additional warehouse building (Building No. 2) 60% - Filipino 40% - Chinese

FIRST PHILIPPINE INDUSTRIAL PARK - SEZ

LIANDUN ECOZONE PROPERTIES CORP. Establish, operate, and maintain a factory/warehouse building 60% - Filipino 40% - Chinese

CAVITE TECHNOPARK-SPECIAL ECONOMIC ZONE

MEGA STAR INT'L DEVELOPMENT CORPORATION Establish, operate, and maintain 1-unit warehouse building 60% - Filipino

40% - Chinese LIMA TECHNOLOGY CENTER - SEZ

MESCO PROPERTY PROVIDERS, INC. Construction and management of 2 factory buildings 100% - Filipino LIMA TECHNOLOGY CENTER - SEZ

P E O COMPANY, INC. Operate a factory/warehouse building 100% - Japanese GATEWAY BUSINESS PARK - SEZ

PANORAMA PROPERTY VENTURES INCORPORATED Establish, operate, and maintain a 4-unit warehouse facilities 100% - Filipino CAVITE TECHNOPARK-SPECIAL

ECONOMIC ZONE

69BUSINESS


PLATINUM ECOZONE REALTY CORP. Establish, operate, and maintain a warehouse building 75% - Filipino 25% - Chinese


PRIMARY PROPERTIES CORPORATION Construct, operate and manage a 2-storey warehouse building 100% - Filipino MACTAN ECONOMIC ZONE

SCL REALTY CORPORATION Establish, operate and maintain a warehouse facility 100% - Filipino CEBU LIGHT INDUSTRIAL PARK - SEZ

SNS ECOZONE PROPERTIES CORP. Construct, manage and operate a factory/warehouse building 55% - Filipino 45% - Chinese


STANCREST REALTY CORP. Additional project to operate and maintain an existing 2-storey warehouse facility 100% - Filipino LIGHT INDUSTRY & SCIENCE PARK

I - SEZ

TORN YANG PHILS INC. Establish, operate, and maintain 2 units factory/warehouse buildings

60% - Filipino 40% - Taiwanese

LIGHT INDUSTRY & SCIENCE PARK IV - SEZ

UNIQUE FORMOSA, INC. Establish a factory/warehouse facilities 99.99% - Seychellois LIMA TECHNOLOGY CENTER - SEZ

RECYCLING AND WASTE MANAGEMENT

CHUN WAH ENTERPRISES CORPORATION Engage in collecting, segregating, recycling and packaging of various plastic and electronic scrap

96% - Chinese 4% - Filipino LAGUNA TECHNOPARK - SEZ

RUBBER AND PLASTIC PRODUCTS

ACRO PACKAGING CORPORATION Manufacture of packaging materials and other related products 100% - Filipino VICTORIA WAVE - SEZ

DELFINGEN PH-CAVITE INC. Manufacture of plastic and related components primarily 99.99% - Singaporean FIRST CAVITE INDUSTRIAL ESTATE - SEZ

LIMATECH PRECISION PLASTIC CORPORATION Manufacture of various plastic injection products 100% - Filipino LIMA TECHNOLOGY CENTER - SEZ

SUMOPAK INDUSTRIAL CORPORATION Manufacture and processing of styropor products - packing materials 100% - Filipino LIMA TECHNOLOGY CENTER - SEZ

YAMAICHI SEIKO PHILIPPINES INC. Manufacture and assembly of data cartridge project 99.99% - Japanese FIRST PHILIPPINE INDUSTRIAL PARK II - SEZ

STORAGE AND WAREHOUSING

ALIBATA LIMITED - MANILA BRANCH Warehousing/logistics support services 100% - Hong Kong LAGUNA TECHNOPARK - SEZ

ARMSTRONG WESTON ASIA INC. Warehousing and logistics services 99.99% - Singaporean LIGHT INDUSTRY & SCIENCE PARK III - SEZ

COLORBEST TECHNOLOGY LTD. CORP. Warehousing/logistics support services 99.99% - Hong Kong FIRST PHILIPPINE INDUSTRIAL PARK - SEZ

DELFINGEN PH-CAVITE INC. Warehousing/logistics operations 99.99% - Singaporean FIRST CAVITE INDUSTRIAL ESTATE - SEZ

ECOZONE LOGISTICS SOLUTIONS EXPRESS INC. Warehousing/logistics support services 100% - Filipino CAVITE ECONOMIC ZONE

FURUKAWA SANGYO KAISHA PHILIPPINES, INC. Warehousing/logistics support services 99% - Japanese GREENFIELD AUTOMOTIVE PARK - SEZ

G4MANNA IMPORT-EXPORT MARKETING INCORPORATED Warehousing/logistics support services 100% - Filipino VICTORIA WAVE - SEZ

KC N A PHILIPPINES INC. Warehousing/logistics support services 100% - South Korean CALAMBA PREMIERE INTERNATIONAL PARK - SEZ

WIT-JAPAN CORPORATION Warehousing/logistics support services 99.99% - Japanese LAGUNA TECHNOPARK - SEZ

ZHONG YU MOULD INDUSTRY Warehousing/logistics support services 100% - Chinese FIRST PHILIPPINE INDUSTRIAL PARK - SEZ

70BUSINESS


BUSINESS CLIMATE INDEX

* The BSP adopted the Balance of Payment, 6th edition (BPM6) compilation framework effective 22 March 2013 with the release of the full-year 2012 and revised 2011 BOP statistics. In BPM6, net FDI flows refer to non-residents’ equity capital (i.e., placements less withdrawals) + reinvestment of earnings + debt instruments, net (i.e.,net intercompany borrowings).

INDUSTRIAL PERFORMANCE (2000=100) JANUARY 2018

DATA (INDEX)

YEAR-ON-YEAR GROWTH

YEAR-TO-DATE

Volume of Production Index (VoPI) (2000=100) 158.4 21.9 13.5

a. Food 184.0 15.2 17.8

b. Beverage 154.9 31.8 14.0

c. Tobacco 3.2 -27.7 -51.9

d. Textile 24.8 -1.0 -7.7

e. Footwear and Wearing Apparel 19.9 -7.1 -5.4

f. Wood and Wood Products 53.1 -52.9 -23.5

g. Furniture & Fixtures 975.6 -1.2 2.4

h. Basic Metals 244.7 35.5 5.6

i. Iron and Steel 194.5 79.2 8.5

j. Non-ferrous Metals 342.0 -5.4 -1.7

k. Fabricated Metal Products 434.6 32.2 -13.6

l. Machinery Excluding Electrical 68.4 36.8 11.7

m. Electrical Machinery 112.1 13.9 3.6

n. Transport Equipment 159.1 -13.9 -11.3

o. Other Mfg Industries 107.5 12.3 10.9

p. Paper & Paper Products 85.2 14.7 3.3

q. Publishing & Printing 277.3 114.5 62.2

r. Leather Products 1.1 37.5 8.1

s. Rubber Products 268.3 -12.8 -1.9

t. Chemical Products 168.6 32.3 12.2

u. Petroleum Products 74.9 37.0 50.9

v. Non-Metallic Mineral Products 169.5 17.5 5.6

w. Glass & Glass Products 151.0 -24.5 -1.6

x. Cement 244.9 27.7 7.3

y. Misc. Non-Metalic Mineral Products 46.6 11.7 0.8

VALUE OF PRODUCTION INDEX (VAPI) (2000=100) 209.8 20.4 13.2

AVERAGE CAPACITY UTILIZATION 84.1 83.1 84.1

FOREIGN DIRECT INVESTMENTBalance of Payments Concept*; January to December 2017

LEVEL (US$ million) CURRENT YEAR-AGO LEVEL

YEAR-ON-YEAR (% CHANGE)

TOTAL FDI 10,049.4 8,279.6 21.4

Equity Capital 3,263.2 2,592.1 25.9

Reinvested Earnings 776.2 710.2 9.3

Debt instruments 6,010.0 4,977.3 20.7

MOTOR VEHICLE SALES 2018 JANUARY 2018

CURRENT YEAR-AGO LEVEL

GROWTH RATE (%)

MOTOR VEHICLE SALES 31,645 30,425 4.0

PASSENGER CAR SALES 9,790 10,984 (10.9)

COMMERCIAL VEHICLE SALES 21,855 19,441 12.4

UNIVERSAL AND COMMERCIAL BANK'S -DECEMBER 2017

LOANS OUTSTANDING TO THE REAL ESTATE SECTOR (P Bn)

Dec-17 % to Total RE loan Dec-16 % to Total

RE loan

Residential 381.74 25.2 313.33 24.6

Commercial 1134.37 74.8 962.77 75.4

71BUSINESS


BUSINESS CLIMATE INDEXSTRIKES IN FEBRUARY 2018

One work stoppage was recorded in February. Meanwhile, there were a total of 62 notices of strike/lockouts handled during the period.

VISITOR ARRIVALS IN JANUARY 2018

Total visitor arrivals registered in January is 732,506, up by 15.97% from 631,639 in the same month in 2017. Of this, 1.08% or 7,920 visitors were Filipinos residing abroad.

Korea remained the top source of market followed by China and the U.S. Visitors coming from Korea amounted to 198,145 (27.05% share of the total visitors in January). The Chinese market tallied 111,344 visitors (15.20%) while the U.S. market recorded 109,154 visitors (14.90%).

SURVEY ON MONTHLY OCCUPANCY RATE & LENGTH OF STAY

JAN TO DEC JAN TO DEC GROWTH RATE

2016 2015 2016/2015

De Luxe Hotels

Occupancy Rates 68.32 71.60 -4.58

Length of Stay 2.42 2.71 -10.70

First Class Hotels


Length of Stay 2.44 2.19 11.42

Standard Hotels

Occupancy Rates 64.74 62.51 3.57


Economy Hotels



Overall Average 66.08 66.95 -1.30

VISITOR ARRIVALS: JANUARY 2018

COUNTRY 2018 2017 % CHANGE RANK

KOREA 198,145 154,367 28.36 1

CHINA 111,344 85,948 29.55 2

USA 109,154 99,435 9.77 3

JAPAN 57,038 51,516 10.72 4

AUSTRALIA 30,924 27,826 11.13 5

CANADA 28,913 24,352 18.73 6

TAIWAN 18,948 21,926 -13.58 7

UNITED KINGDOM 18,111 15,747 15.01 8

INDIA 13,779 11,805 16.72 9

SINGAPORE 13,627 12,000 13.56 10

MALAYSIA 12,012 10,215 17.59 11

HONGKONG 9,284 10,006 -7.22 12

OVERSEAS FILIPINO 7,920 11,518 -31.24

OTHERS 103,307 94,978 8.77

TOTAL 734,524 633,656 15.92

LABOR STRIKES (FEBRUARY 2018)

STRIKES DECLARED WORKERS INVOLVED MAN-DAYS LOST (000)

2018 2017 2018 2017 2018 2017

JAN 1 - 70 - 140 120,348

FEB 1 1 240 214 2,160 14,488

MAR - 1 - 138 - 16,668

APR - 3 - 430 - 16,276

MAY - 1 - 263 - 18,040

JUN - - - - - 15,738

JUL - 1 - 294 - 13,346

AUG - 2 - 140 - 9,278

SEP - - - - - 10,894

OCT - - - - - 4,408

NOV - - - - - -

DEC - - - - - -

TOTAL 2 9 310 1,479 2,300 239,484

pledged investments in 2017, lowest in more than a decade

Documents