Compiled Indicators

 

Approved Foreign Investments

No. Concept Name Description
1
Contact
The administrative placement of this statistics is in the Satellite Accounts Division. The persons responsible are:
  • Chief Statistical Specialist, tel. +63 2 376-2019,sad.staff@psa.gov.ph
  • Statistical Specialist II, tel. +63 2 376-2019,
  • Statistical Specialist I, tel. +63 2 376-2019, 
1.1
Contact organisation
Philippine Statistics Authority
1.2
Contact organisation unit
Macroeconomic Accounts Service
1.3
Contact name
Eduardo B. Sanguyo
1.4
Contact person function
Compiler
Responsible for the statistics
1.5
Contact mail address
16f Cyberpod 3 Eton Centris, EDSA corner Quezon Avenue, Quezon City
1.6
Contact email address
sad.staff@psa.gov.ph
1.7
Contact phone number
+63 2 376-2019
1.8
Contact fax number
+63 2 376-2019
2
Metadata update
 
2.1
Metadata last certified
NA
2.2
Metadata last posted
 
2.3
Metadata last update
NA. This is the first posting of metadata following the SDMX.
3
Statistical presentation
 
3.1
Data description
The Approved Foreign Investments report contains information on  the total amount intended for the acquisition of fixed capital, inventories, and financial assets, or either, within the Philippine economic territory as approved by the seven investment promotion agencies (IPAs), namely: Board of Investments (BOI), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA) as well as Authority of the Freeport Area of Bataan (AFAB), BOI-Autonomous Region of Muslim Mindanao (BOI-ARMM), and Cagayan Economic Zone Authority (CEZA).  It also contains Foreign Direct Investment in the Balance of Payment, Approved investment of foreign and Filipino nationals, projected employment from the approved investment, and approved investment in Information and Communication Technology.
The objective of Approved Foreign Investment report is to compile, generate, and report the amount of contribution or share of non-residents in investment projects within the Philippine economic territory as approved by the IPAs.  This is to monitor and promote for attracting foreign investments in the country.  Specifically, it aims to develop a system that is comparable internationally. As such, the Philippine FIIS is adopting the International Monetary Fund (IMF) concept of Foreign Direct Investments as described in the Fifth Edition of the Balance of Payments (BOP) Manual, in all of its components, i.e., the Register, the Annual FDI Reporting System and the Consolidated Quarterly Reporting System (CQRS).
3.2
Classification system
The Philippine Standard Industrial Classification (PSIC 2009) is a detailed classification of industries prevailing in the country based on the productive activities undertaken by establishments. It serves as a guide in the classification of establishments according to their primary economic activity which is useful for analysis. It also serves as a framework for data collection, processing and compilation to secure uniformity and comparability of industrial statistics produced by both government and private sectors in the economy.
The 2009 PSIC was patterned after the United Nations International Standard Industrial Classification (UN-ISIC) Revision 4, but with some modifications to reflect national situation and requirements. Like its previous editions, it guarantees international comparability of statistics relating to economic activities of industries and establishments generated in the PSS.
3.3
Sector coverage
Investments.
3.4
Statistical concepts and definitions
Approved foreign investments represent the amount of proposed contribution or share of foreigners to various projects in the country as approved and registered by the seven Investment Promotion Agencies (IPAs), namely: Board of Investments (BOI), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA) as well as Authority of the Freeport Area of Bataan (AFAB), BOI-Autonomous Region of Muslim Mindanao (BOI-ARMM), and Cagayan Economic Zone Authority (CEZA). Approved foreign investments do not represent actual investments generated but rather foreign investment commitments which may come in the near future. This consists of equity, loans and reinvested earnings. In the operationalization of computing for approved FIs as approved and registered with the Investment Promotion Agencies (IPAs), all FIs including those with less than 10 percent of the ordinary shares are included. The reason is that approved FDIs as rendered by the IPAs have long lasting interest unlike portfolio investments.
Approved FIs in the Information and Communication Technology Sector (ICT) includes investment commitments in the manufacturing of ICT equipment, spare parts and accessories including professional, medical and scientific instruments as well as ICT services e.g., wholesale trade of computers, electronic parts and equipment; telecommunications; renting of computers and other office equipment; computer services and other related activities
Registered FIs only represent foreign equity investments or paid up capital and does not include intercompany loans. Hence, not all approved FIs are translated into registered FIs since the former consist of intercompany loans and reinvested earnings. In addition, capital inflows from approved FIs are spread or expected to be fully implemented after five years or more, based on the experience of Investment Promotion Agencies.
On the other hand, the BOP FIs cover cash transactions on foreign direct investment flows that are coursed through the banking system. Machinery, equipment and reinvested earnings, which are not cash transactions are included if data are available.
3.5
Statistical unit
For the compilation of approved foreign investments, the statistical unit is enterprise.
3.6
Statistical population
All approved investments in the country.
3.7
Reference area
Philippines
3.8
Time coverage
Quarterly Approved Foreign Investments from Q1 1996.
3.9
Base period
Not Applicable.
4
Unit of measure
million pesos
5
Reference period
The reference time for the approved investments is the quarter in which all Filipino and foreign investments have been granted approval by the investment promotion agencies.
6
Institutional mandate
 
6.1
Legal acts and other agreements
Memorandum of Agreement of the Foreign Investments Information System- the NSCB, in line with its mandate to promote an efficient statistical system, has instituted certain mechanisms towards the development of an integrated report on foreign investments data on a regular basis.
R.A. 10625: the PSA shall plan, develop, prescribe, disseminate and enforce policies, rules and regulations and coordinate government-wide programs governing the production of official statistics, general-purpose statistics, and civil registration services.
It shall primarily be responsible for all national censuses and surveys, sectoral statistics, consolidation of selected administrative recording systems and compilation of national accounts.
6.2
Data sharing
Memorandum of Agreement of the Foreign Investments Information System- the BSP, BOI, SEC, BTRCP, CDC, SBMA, and PEZA shall agree to provide investments and company information to each other for verification purposes.
R.A. 10625: the PSA shall plan, develop, prescribe, disseminate and enforce policies, rules and regulations and coordinate government-wide programs governing the production of official statistics, general-purpose statistics, and civil registration services.
It shall primarily be responsible for all national censuses and surveys, sectoral statistics, consolidation of selected administrative recording systems and compilation of national accounts.
7
Confidentiality
 
7.1
Confidentiality - policy
The PSA and its field personnel shall hold all data supplied by the establishments/households/individuals in confidence. The information obtained from each respondent of the census/survey or individual/establishment in administrative records shall be for statistical purposes only and not for taxation, regulation nor investigation purposes. The data shall be processed with others of the same category and shall be disseminated in summary forms or statistical tables so as not to reveal the identity of any respondent. Confidentiality of primary data collected from respondents/administrative records systems is guaranteed by Section 26 of the Republic Act No. 10625 (Philippine Statistics Act of 2013). Penalties shall be enforced to acts of breach of confidential information pursuant to Section 27 of the said Act.
7.2
Confidentiality - data treatment
The Quarterly Approved Foreign Investments Report is only releasing aggregates. Firm level information obtained from the IPAs is treated with confidentiality.
8
Release policy
Rules for disseminating statistical data to all interested parties.
8.1
Release calendar
-Quarter 4 of the previous year: Week 3 of February
-Quarter 1 of the Current Year: Week 2 of June
-Quarter 2 of the Current Year: Week 2 of September
-Quarter 3 of the Current Year: Week 2 of December
8.2
Release calendar access
The Release Calendar can be accessed on the PSA website.
8.3
User access
Statistics are always published at 10:00 a.m. on the date of release. The statistics can be accessed on the PSA website.
9
Frequency of dissemination
The quarterly Approved Foreign Investments are published four times a year.
10
Accessibility and clarity
Statistical Tables of the Foreign Investments Report can be obtained from the PSA Website and OpenStat.
Authorization to use the Foreign Investments Reportis granted only to the client or data user and persons within its organization, if applicable. Under no circumstances shall the client reproduce, distribute, sell or lend the entire data or parts thereof to any other data user apart from himself or that of authorized employees in his organization. The PSA shall hold the data user fully responsible for safeguarding the data from any unauthorized access or use. Before being granted access to the dataset, all users have to formally agree: 1. To make no copies of any files or portions of files to which s/he is granted access except those authorized by the PSA. 2. Not to use any technique in an attempt to learn the identity of any person, establishment, or sampling unit not identified in the dataset. 3. To hold in strictest confidence the identification of any establishment or individual that may be inadvertently revealed in any documents or discussion, or analysis. Such inadvertent identification revealed in her/his analysis will be immediately be reported to the PSA.
The mode of data requests can be done through Email, letter, phone, or walk-in. Non-published information is only available to a limited extent upon request.
10.1
News release
Quarterly Press Release from PSA.
10.2
Publications
Quarterly Report on Foreign Investments
10.3
On-line database
http://www.psa.gov.ph/foreign-investments-press-releases
10.4
Micro-data access
The basic material used for compiling the Approved Investments is saved to a large extent, but detailed non-published information is only available to a limited extent upon request.
10.5
Other
Internal delivery of hardcopies to NS, DNS, ANS and NEDA.
10.6
Documentation on methodology
PSA-SAD Operations Manual and Technical Notes of Quarterly reports
10.7
Quality documentation
Results from the quality evaluation of the products and selected processes are available.
11
Quality management
PSA adheres to the UN fundamental Principles of Official Statistics in the production of quality general-purpose statistics.
Philippine FIIS is adopting the International Monetary Fund (IMF) concept of Foreign Direct Investments as described in the Fifth Edition of the Balance of Payments (BOP) Manual, in all of its components, i.e., the Register, the Annual FDI Reporting System and the Consolidated Quarterly Reporting System (CQRS).
PSA established the Interagency Committee on Investment Statistics:
-to review existing framework on foreign and domestic investment statistics and provide directions in the generation of timely and quality investment statistics,
-to review and assess available data on approved and realized investments in terms of coverage, frequency, disaggregation and source
-To adopt standard concepts and definitions for statistical purposes for the approved and realized investments
-To prioritize outputs that will address the more urgent statistical concerns on investments, such as those required to carry out in the Philippine Development Plan (PDP) and Philippine Statistical Development Program (PSDP).
11.1
Quality assurance
Process Flow of the Approved Investments is attached to the PSA-SAD Operations Manual.
11.2
Quality assessment
Not relevant for these statistics.
12
Relevance
 
12.1
User needs
Important users are economic ministries, organizations, the press, the financial sector, larger companies, students and researchers.
12.2
User satisfaction
Most of the feedback of data requesters indicated “excellent” as their level of satisfaction.
PSA feedback form is accomplished once the data request has been provided to determine the user’s level of satisfaction and to continually improve the services of the Macroeconomic Accounts Service
12.3
Completeness
Quarterly Approved Foreign Investments released by the PSA do not cover all the approved investments in the country. Out of the 14 Investment Promotion agencies, the Quarterly Approved Investments only cover the seven IPAs namely: BOI, PEZA, SBMA, CDC, AFAB, BOI-ARMM, and CEZA.
13
Accuracy and reliability

The accuracy of statistical outputs in the general statistical sense is the degree of closeness of computations or estimates to the exact or true values that the statistics were intended to measure. Reliability refers to the closeness of the initial estimated value to the subsequent estimated value.
13.1
Overall accuracy
Not relevant for these statistics.
13.2
Sampling error
Not relevant for these statistics.
13.3
Non-sampling error
 
14
Timeliness and punctuality
 
14.1
Timeliness
Released to the public upon submission to the President of the Philippines sixty days after the reference quarter.
14.2
Punctuality
The statistics are published according to schedule.
15
Coherence and comparability
Coherence measures the adequacy of the statistics to be combined in different ways and for various uses.
Comparability is a measurement of the impact of differences in applied statistical concepts, measurement tools and procedures where statistics are compared between geographical areas or over time.
15.1
Comparability - geographical
Not relevant for these statistics.
15.2
Comparability - over time
Data submissions from AFAB, BOI-ARMM and CEZA start from 2010.
15.3
Coherence - cross domain
Coherence - internal
Not relevant for these statistics.
Not relevant for these statistics.
16
Cost and burden
No direct burden of respondents.
17
Data revision
 
17.1
Data revision - policy
Any modifications in schedule of data dissemination, change the frequency of some indicators, etc., after review and evaluation, the PSA will recommend approval from the Board in accordance with the PSA Board Resolution on Revision of Estimates - "Approving and adopting the modifications in the Designated Statistical Activities of the Bangko Sentral ng Pilipinas and the Philippine Statistics Authority "
17.2
Data revision - practice
Revisions on the previous quarter figures are reflected in the latest report.
18
Statistical processing
 
18.1
Source data
Data of Investment Promotion Agencies  namely:
·    Board of Investments
·    Clark Development Corporation
·    Philippine Economic Zone Authority
·    Subic Bay Metropolitan Authority
·    Authority of the Freeport Area of Bataan
·    BOI-Autonomous Region of Muslim Mindanao
·    Cagayan Economic Zone Authority
18.2
Frequency of data collection
The quarterly Approved Foreign Investments are compiled four times a year.
18.3
Data collection
The seven IPAs provided their monthly data on approved investment in Excel format to the PSA through the Satellite Accounts Division (SAD) of the Macroeconomic Accounts Service (MAS).
18.4
Data validation
The initial totals of approved investments are being sent to IPAs for verification.
18.5
Data compilation
The data from the seven IPAs are merged and compiled.  To arrive at total approved investments, the reported project costs of BOI, CDC, PEZA, SBMA, AFAB, BOI-ARMM and CEZA are summed up for the quarter.
18.6
Adjustment
Not Applicable.
19
Comment