Foreign investment (FI) approvals in the Philippines surged in the first quarter of 2026, climbing 52.3 percent year-on-year to P42.64 billion from P27.99 billion a year earlier, driven largely by South Korean capital and strong commitments in tourism, manufacturing, and industrial projects.

South Korea accounted for the bulk of inflows, contributing P25.37 billion or 59.5 percent of total foreign investment approvals, followed by Singapore with P3.18 billion and China with P2.54 billion.

The Philippine Statistics Authority (PSA) said seven investment promotion agencies reported foreign investment approvals during the period, including the Board of Investments, Philippine Economic Zone Authority, Bases Conversion and Development Authority, and Subic Bay Metropolitan Authority.

Central Luzon emerged as the top regional destination, securing P33.08 billion or 77.6 percent of total foreign pledges, followed by CALABARZON with P3 billion and the National Capital Region with P2.13 billion.

By sector, arts, entertainment, and recreation led foreign investment approvals with P10.38 billion, followed closely by manufacturing at P9.08 billion and accommodation and food services at P9.07 billion.

Despite the surge in foreign capital, total approved investments from both foreign and Filipino investors declined 30.8 percent to P125.95 billion from P181.97 billion in the same period last year.

Employment prospects from approved projects also weakened, falling 31.9 percent to 21,623 jobs from 31,758 previously. Of the total, 13,108 jobs are expected to come from projects with foreign participation.