Projected job generation from government-approved investments declined by nearly a third in the first quarter of 2026, even as foreign investment commitments posted strong growth, according to the Philippine Statistics Authority.
PSA data showed that approved investment projects were expected to create 21,623 jobs from January to March, down 31.9 percent from the 31,758 projected positions in the same period last year.
Projects with foreign interest accounted for the bulk of the employment outlook, with 13,108 expected jobs, representing 60.6 percent of the total.
The PSA said foreign investments approved in the first quarter reached P42.64 billion, a 52.3-percent increase from the P27.99 billion recorded in the same period in 2025.
The investment approvals came from seven of the country’s 15 Investment Promotion Agencies, namely the Bases Conversion and Development Authority, Board of Investments, Clark Development Corporation, Cagayan Economic Zone Authority, Clark International Airport Corporation, Philippine Economic Zone Authority, and Subic Bay Metropolitan Authority.
South Korea emerged as the top source of foreign investment pledges, contributing P25.37 billion or 59.5 percent of the total. Singapore followed with P3.18 billion or 7.5 percent, while China ranked third with P2.54 billion or 5.9 percent.
By industry, arts, entertainment, and recreation received the largest share of foreign pledges at P10.38 billion, equivalent to 24.4 percent. Manufacturing followed with P9.08 billion or 21.30 percent, while accommodation and food service activities attracted P9.07 billion or 21.28 percent.
Central Luzon was the leading destination for foreign investment commitments, receiving P33.08 billion or 77.6 percent of the total. CALABARZON followed with P3.00 billion or 7.0 percent, while the National Capital Region placed third with P2.13 billion or 5.0 percent.
Despite the increase in foreign pledges, total approved investments from both foreign and Filipino sources fell 30.8 percent to P125.95 billion in the first quarter from P181.97 billion a year earlier.
Filipino nationals accounted for most of the combined approved investments, contributing P83.31 billion or 66.1 percent of the total.
Across sectors, electricity, gas, steam, and air conditioning supply received the largest share of combined investment approvals at P29.58 billion or 23.5 percent. Accommodation and food service activities followed with P24.03 billion or 19.1 percent, while manufacturing ranked third with P21.89 billion or 17.4 percent.