Approved foreign investment pledges up by 70% in second quarter

Approved foreign investment pledges rose by 70.4% in the second quarter, its highest in almost three years, the Philippine Statistics Authority said.
Preliminary PSA data showed approved foreign commitments by the country’s seven investment promotion agencies (IPAs) growing to P30.9 billion from P18.2 billion recorded in the same period last year.
The second-quarter result brought foreign commitments in the first half to P45.2 billion, 10% more than the P41 billion a year ago. — Vincent Mariel P. Galang