Foreign investment pledges up in Q2

Approved foreign investment pledges increased by nearly half in the second-quarter of the year, the Philippine Statistics Authority reported Thursday, Sept. 9.Based on the PSA data, total foreign investments in the country reached P22.5 billion in April to June 2021, an increase of 45 percent compared with P15.46 billion in the same period last year.The IPAs were Board of Investments , Clark Development Corp.

The foreign investment commitments were mainly driven by investments from the United Kingdom which accounted for 55.6 percent of the total, followed by South Korea and the United States . Information and communication industry bested all other industries as it stands to receive P12.53 billion or 55.7 percent of the total foreign investment pledges.

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