Foreign investment pledges climb threefold to P189.5B

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Investment,Pledges,Climb

FOREIGN investment pledges in the second quarter increased threefold to P189.5 billion, the Philippine Statistics Authority (PSA) reported on Thursday.

FOREIGN investment pledges in the second quarter increased threefold to P189.5 billion, the Philippine Statistics Authority reported on Thursday.The latest figures were 220.7 percent higher than the P59.09 billion in 2023.Switzerland accounted for the largest commitment of P172.04 billion or 90.8 percent of total foreign investment approvals. Japan followed with P7.68 billion and Malaysia with P4.53 billion .The bulk, P172.74 billion or 91.

8 percent compared to 31,218 in 2023.Most of the jobs will be generated from foreign investment projects, should these materialize, the PSA noted.By geographical area, the Negros Island Region had the highest share of committed investments at P86.46 billion or 45.6 percent of the total for the quarter.Next was Calabarzon at P6.93 billion and Central Visayas at P4.35 billion .

 

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