In a Palace briefing on Tuesday, Trade Undersecretary Ceferino Rodolfo said the total investment approvals from January to September reached ₱734 billion, up from ₱362 billion a year ago.
However, the central bank in September reported that foreign direct investments or actual fund inflows dropped 20.4% to $3.911 billion in the first semester due"largely to investor concerns over weak growth prospects amid persistent global uncertainties." The DTI official said about 90% of the ₱427 billion investments were directed to the renewable energy market.
Marcos was in Belgium in December 2022 for the Association of Southeast Asian Nations-European Union Commemorative Summit.
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