1st Quarter 2008
Posted 22 May 2008
1st Quarter 2008
Approved investments in the information and communications
technology (ICT) sector
The combined foreign and Filipino investments in the ICT industry during the first quarter of the year reached PhP 5.5 billion, 5.2 percent higher than the PhP 5.2 billion approved in the same period of 2007. ICT shared 14.1 percent of the total approved investments during the quarter.
Projects in ICT has been consistently dominated by foreign investors who poured in PhP 4.2 billion worth of commitments, or 76.6 percent of the total approved ICT investments. The amount, however, is 11.5 percent lower than the pledges made in the first quarter of 2007.In contrast, investment pledges of Filipino nationals in the ICT industry increased to PhP1.3 billion from PhP 0.5 billion, growing by almost three times its 2007 levels.
Table E Approved Investments in ICT, by Foreign and Filipino Nationals
First Quarter, 2007 and 2008 (in billion pesos)
|Nationality||Q1 2007||Q1 2008||Percent to total Q1 2008||Growth rate
Among the sub-industries of ICT, IT services consistently bested other ICT sub-industries in terms of share to total ICT investments every quarter. For the first quarter of 2008, IT services stand to receive PhP 3.8 billion or 69.0 percent of the PhP 5.5 billion intended for the whole ICT industry. Investment pledges in the IT services, however, slid by 27.0 percent brought about by the reduction in commitments by foreign investors during the quarter. A major chunk of the investments intended for IT services came from the USA.
Foreign investors infused fresh investments in the manufacture of ICT-related goods as they pledged PhP 1.7 billion or 30.7 percent of the total ICT investments for the quarter. Investments in manufacturing in the same quarter last year worth PhP 31.0 million were committed by Filipino nationals.
Total projected employment from approved investments in ICT during the first quarter of 2008 slid by 28.5 percent from 17,620 to 12,596 brought about by the decline in the jobs expected to be generated from investments in IT services sub-industry. IT services comprised 84.5 percent of the total projected employment in ICT.
ICT manufacturing is expected to produce 1,909 jobs, which is ten times more than the 186 jobs in the first quarter of 2007.
Projected Employment from Approved Investments in ICT by ICT Sub-Industry
First Quarter, 2007 and 2008
|ICT Sub-Industry||Q1 2007||Q1 2008||Percent to total Q1 2008||Growth rate