Government agencies signed on Tuesday a memorandum of agreement (MOA) to enhance foreign direct investments (FDI) data compilation.
The agreement, signed by the Philippine Statistics Authority (PSA), Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC), establishes a framework for secure data sharing among the agencies to produce more comprehensive and internationally aligned FDI statistics.
In a social media post, the PSA said the collaboration aims to align the country’s FDI data compilation practices with global standards, improve data quality and coverage, and enhance foreign investor confidence.
Under the agreement, the SEC will provide relevant corporate registration records to the PSA and BSP through its existing digital platforms, including the SEC Swift Corporate and Other Records Exchange (SCORE) Protocol and the SEC API Marketplace, allowing the secure exchange of investment-related data.
The PSA will serve as the central repository of FDI data, while the BSP will continue to compile and publish the country’s official FDI statistics.
Present during the ceremony were Department of Finance (DOF) Secretary Frederick Go, PSA Undersecretary and National Statistician Claire Dennis Mapa, BSP Deputy Governor Zeno Ronald Abenoja, and SEC Chairperson Francisco Lim.
Also in attendance were other key PSA officials, such as Assistant Secretary Divina Gracia del Prado, Deputy National Statistician of the Sectoral Statistics Office, and Macroeconomic Accounts Service Assistant National Statistician Mark Pascasio.
In a separate statement, the DOF said the enhanced data-sharing system is expected to improve the quality, completeness, and timeliness of FDI statistics in the country by integrating enterprise-level information with existing reporting mechanisms.
The initiative incorporates robust safeguards to protect confidential information consistent with the Data Privacy Act.
The enhanced collaboration supports the government’s broader agenda of fostering a more competitive and investment-friendly economy by improving the quality and flow of economic data to guide policy decisions. (PNA)
