PSA to Consolidate FDI Data Under New Tri-Agency Pact

The Philippine Statistics Authority (PSA) will serve as the central repository of foreign direct investment (FDI) data following a new information-sharing agreement with the Securities and Exchange Commission (SEC) and the Bangko Sentral ng Pilipinas (BSP). The three agencies signed a memorandum of agreement (MoA) on Monday establishing a framework for the secure sharing of data to produce more comprehensive and internationally aligned FDI statistics. “The enhanced data-sharing system is expected to improve the quality, completeness, and timeliness of FDI statistics by integrating enterprise-level information with existing reporting mechanisms,” the Department of Finance said in a statement on Tuesday. Psa Undersecretary Claire Dennis S. Mapa said the agreement follows Finance Secretary Frederick D. Go’s request to identify areas for improvement in the compilation of FDI statistics and strengthen the reporting mechanism to facilitate evidence-based decision making. “I thank the Secretary of Finance — who is not only the brain, but the creator of the project we’re celebrating today through the signing of this MoA,” SEC Chairman and Chief Executive Officer Francisco Ed. Lim said. Under the agreement, the SEC will provide corporate registration records to the PSA and BSP through its current digital platforms. Meanwhile, the PSA will serve as the central repository of FDI data, while the BSP will continue compiling and publishing FDI statistics. The Philippines reported its lowest monthly net inflow of FDI in nearly 10 years in April. The BSP reported that net FDI inflows plunged 58.8% year on year to $250 million in April. The April tally was the lowest since the $244 million recorded in June 2016. It was also the steepest year-on-year decline since December 2022, when inflows contracted by 76.1%. — Justine Irish D. Tabile