A boat is seen on Pasig River, July 31. — PHILIPPINE STAR/ MIGUEL DE GUZMANdeclined 22.4% in the third quarter as investors fretted over a looming global economic slowdown, soaring inData from the Philippine Statistics Authority showed total approved foreign investments dropped to P13.05 billion in the July to September period, from P16.82 billion in the same period a year ago.fiFor the first nine months of 2022, approved foreign investment pledges rose 15.6% to P68.28 billion.
The PEZA accounted for 70.9% or P9.25 billion of total investments in the July to September period, followed by BoI with 16.5% or P2.16 billion and the CDC with 10.5% or P1.36 billion. The SBMA approved P276.13 million worth of investments. Half or P6.6 billion of the approved investments will go to Calabarzon , while Central Luzon will receive 23% or P3.02 billion, and National Capital Region with P2.24 billion or 17.1%.The approved investments of foreign and Filipino nationals in the third quarter surged 58% year on year to P159.18 billion. Of the total, Filipino nationals accounted for P146.13 billion or 91.8%.in a Viber message that the drop in approved foreign investments may be due to worries over a global economic slowdown.
Tereso O. Panga, PEZA officer-in-charge and deputy director general for policy and planning, said in a Viber message that the agency expects to approve several big-ticket items in its next few meetings.
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