FOREIGN investments approvals fell steeply in the third quarter but the overall tally still saw a surge due to local pledges, the Philippine Statistics Authority (PSA) reported on Tuesday.
FOREIGN investments approvals fell steeply in the third quarter but the overall tally still saw a surge due to local pledges, the Philippine Statistics Authority reported on Tuesday.At P13.05 billion, foreign investment commitments cleared by the Board of Investments , Clark Development Corp., Philippine Economic Zone Authority and the Subic Bay Metropolitan Authority were 22.4 percent lower compared to the P16.82 billion a year earlier.
6 percent of the quarter's foreign investment approvals. Central Luzon came second with P3.02 billion and the National Capital Region was third with P2.24 billion .Overall approvals surgeCounting pledges made by Filipinos, however, total investment approvals were 58.4 percent higher at P159.18 billion for the quarter from last year's P100.48 billion.The BoI accounted for the bulk of investment approvals at P132.31 billion, or 83.1 percent, followed by PEZA and SBMA .
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