Manufacturing investments in the country in 2017 surged by more than 200% from a year ago, the Department of Trade and Industry (DTI) said, citing an overall robust economy and regulations that are conducive for business.

In a Wednesday statement, Secretary Ramon M. Lopez said  investments in the factory sector soared by 244%, posting a record of $ 1.15 billion inflows.

The official said the sector made up 35% of the $3.3 billion equity capital placements in 2017.

Top performers were into food manufacturing; radio, television, and communication equipment and apparatus production ; chemical and non-chemical products; fabricated metal products; basic metal and non-metallic mineral products.

The bulk of foreign equity investments derived from Singapore, Japan, The Netherlands, United States, and Luxembourg.

“Investor confidence is real,” Mr. Lopez was quoted as saying.

“The Philippines continues to be a magnet for investments, and this is due to the country’s improving business environment, sound macroeconomic policy, aggressive infrastructure build-up, much improved peace and order and political stability, favorable demographics, growing middle class and consumer base and, of course, our people, who have always been the country’s prime asset in attracting foreign investments.” — Janina C. Lim

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