Combined investments from new projects registered with the Board of Investments (BoI) and the Philippine Economic Zone Authority (PEZA) in the first quarter this year shoot up 263.9 percent to P63.95 billion from P17.57 billion in the same first three months last year driven by renewed interest in electronics, construction and infrastructure sectors.

“The remarkable first quarter investment performance is a strong reflection of the high level of investor confidence in the Philippines as an investment destination. We shall vigorously pursue measures and policies that will improve business transaction to sustain investors’ confidence. The National Competitiveness Agenda shall serve as our blueprint in cutting the cost of doing business in the country,” said Trade and Industry Secretary Jesli A. Lapus, who chairs both the BoI and PEZA.

Of the combined investments data, the BoI accounted for the bulk of P35.1 billion, a sharp increase of 717 percent increase compared to the P4.3 billion approved in the same period last year.

On the other hand, investments poured in the country’s economic zones in the first quarter this year jumped 111 percent to P28.85 billion from P13.27 billion.

The BoI investments haul represent the project costs of a total of 36 projects it approved for the period. These projects are expected to generate 5,882 jobs once fully operational.

“Job generation shall be our primary goal. The robust growth in the manufacturing, real estate and electricity sectors shall continue to be the main drivers of employment,” Lapus said.

The top performing sectors for the period were manufacturing; real estate, renting and business activities; electricity, gas and water supply; transport, storage and communications as these sectors yielded positive growth rates.

Japan continued to be the top trading partner of the country together with the Netherlands as investors from these countries contributed the most investments in the first quarter of 2010.