The Department of Trade and Industry, citing data from the Philippine Statistics Authority (PSA), said foreign investment approvals from investment promotion agencies (IPAs) reached P42.64 billion from January to March 2026, up 52.31 percent from P27.99 billion a year earlier.
The increase helped lift total approved investments to P125.95 billion, with domestic investors accounting for P83.31 billion.
Korean lead
South Korea emerged as the country's largest source of the approved foreign investment commitments, contributing P25.37 billion or nearly 60 percent of total foreign investment approvals during the quarter.
Singapore and China followed with approved investments worth P3.18 billion and P2.54 billion, respectively.
Trade Secretary and Board of Investments (BOI) Chair Ma. Cristina Roque said the figures reflect growing investor confidence in the Philippine economy.
"With South Korea accounting for nearly 60 percent of total inflows, the results reflect the strength of our economic partnership and continued investor confidence in the Philippines as a destination for high-impact investments that generate jobs and support economic growth," Roque said.
She attributed the growth in investment approvals to reforms aimed at improving the ease of doing business and enhancing the country's competitiveness.
Job creation
The approved projects are expected to generate 21,623 jobs, providing a boost to employment and economic activity.
Among investment promotion agencies, the BOI remained the largest contributor to overall approvals, registering P58.20 billion worth of projects from 50 approved investments.
Of the total, P5.24 billion came from foreign investors while P52.96 billion represented domestic investments.
BOI-approved projects are expected to create 6,226 jobs.
Sector drivers
The energy sector, including renewable energy projects, accounted for the largest share of investment approvals at P29.58 billion or 23.48 percent of the total.
Accommodation and food service activities followed with P24.03 billion, ahead of manufacturing at P21.89 billion and real estate activities at P20.72 billion.
Investment approvals in accommodation and food service activities surged 917.7 percent year-on-year, reflecting renewed investor interest in tourism-related businesses as travel demand continues to recover.
Meanwhile, investments in arts, entertainment, and recreation grew by more than 3,000 percent, highlighting increasing confidence in consumer-driven sectors.
Among the projects supported by South Korean investors was a 2.000-MWp/1.600 MWac solar power development in Camotes Island, Cebu, with project costs amounting to P93.95 million.
Outlook
Trade Undersecretary and BOI Managing Head Ceferino Rodolfo said the strong first-quarter performance could set the stage for sustained investment inflows throughout the year.
"This strong first-quarter performance sets the tone for sustained foreign investment inflows in the months ahead, driven by ongoing reforms, improved ease of doing business, and proactive investment promotion," Rodolfo said. —Ed: Corrie S. Narisma
