CLARK FREEPORT — Clark Development Corporation (CDC) holds the third highest share of overall growth rate on approved Foreign Investments (FI) in the country in 2021.
A report by the Philippine Statistics Authority (PSA) said the FI pledges for CDC in 2021 was valued at P3.68 billion or a 43.1 percent upturn compared to its data in 2020 at P2.57 billion.
There is also a 16.2 percent growth in the number of Filipino investments for CDC.
The 2021 approved projects with foreign interests for the state-owned firm were projected to generate 6,690 job opportunities, which accounts for a 40.5 percent increase in the number of committed employment compared to 2020, with an employment projection of 4,763.
Based on the PSA data, other IPAs who posted positive FI contributions include Bureau of Investments (BOI), which holds the highest growth rate at 218 percent, followed by the Board of Investments in the Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM), with 564 percent growth rate, and Authority of the Freeport Area of Bataan (AFAB), with 38.8 percent growth rate.
The total approved FIs from all IPAs in the country was valued at P192.34 Billion, a 71.5 percent increase from 2020 at P112.12 billion.
These investments were predominantly from Singapore (41.7 percent), Netherlands (14 percent), and Japan (12.7 percent).
The top industries with foreign commitments are Information Communication Technology (ICT) valued at P144.32 billion, which also accounts for 75 percent of the overall committed FIs in 2021; Manufacturing, with P26.56 billion or 13.8 percent contribution; and Administrative and support services reported at a value of P7.29 billion or 3.8 percent share from the total foreign commitments in the Philippines.
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