DAVAO CITY – The Davao Region reported P549.85 million in approved foreign investments in the third quarter of 2022, according to a report released Tuesday by the Philippine Statistics Authority .The agency said Davao’s approved investment commitments improved by 3.17 percent as compared with the investments worth P532.94 million recorded in the previous quarter.
A pledge of P985.70 million for Northern Mindanao in the second quarter was the highest investment so far reported on the island for this year while Bangsamoro Autonomous Region in Muslim Mindanao recorded P291.45 million in the same quarter, based on the information released by the agency. According to the PSA, approved foreign investments in the country in the third quarter were reported at P13.05 billion or lower by 22.4% as compared to P16.82 billion in the same quarter of 2021.
Among the regions in the Philippines, CALABARZON reported the highest approved foreign investments at P6.60 billion comprising 50.6 percent of the total investments, followed by Central Luzon with P3.02 billion and National Capital Region with P2.24 billion.