APPROVED foreign investments plunged in the first quarter (Q1) of this year, the Philippine Statistics Authority (PSA) reported on Thursday, dropping 63.6 percent to P148.43 billion from P408.22 billion a year earlier.
APPROVED foreign investments plunged in the first quarter of this year, the Philippine Statistics Authority reported on Thursday, dropping 63.6 percent to P148.43 billion from P408.22 billion a year earlier.The investment pledges, the PSA said, comprise those received by the Board of Investments , Clark Development Corp., Cagayan Economic Zone Authority, Philippine Economic Zone Authority and Subic Bay Metropolitan Authority.
2 percent of total foreign investment approvals.The Netherlands was next with P38.89 billion , followed by South Korea at P20.23 billion .The bulk, P109.19 billion or 73.6 percent, is for the electricity, gas, steam and air-conditioning supply sector.Accommodation and food service activities were next at P20.09 billion , while manufacturing secured P12.62 billion .By geographical area, Calabarzon has the highest share of pledged investments at P117.39 billion, or 79.
Investment Approvals Plunge 63.6% To $148.4B In Q1
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