Approved foreign investments in Philippines down by 54.1 per cent in Q1

MANILA, May 19 (Xinhua): Total foreign investments (FI) approved in the first quarter of 2022 reached over US$171 million, 54.1 per cent lower compared with the amount in the same period last year, the Philippine Statistics Authority (PSA) said on Thursday.

The PSA said the foreign investments for the first quarter were mainly driven by investments from Japan which accounted for 39.7 per cent of the total approved FI, followed by South Korea and Singapore.

The PSA said manufacturing bested all other industries as it stands to receive nearly US$98 million or 57.4 percent of the total FI pledges.

Electricity, gas, steam and air conditioning supply was second, followed by administrative and support service activities.

The agency said the projects would generate over 20,000 jobs. - Xinhua

Article type: free
User access status:
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Philippines , Foreign Investments , Q1 , Down , Above 5o%


Next In Aseanplus News

Asean News Headlines at 9pm on Sunday (June 26, 2022)
Singapore foreign minister Vivian Balakrishnan meets Turkish counterpart; discusses expansion of food exports to island
Indonesia president support group Projo to back candidate who continues Jokowi's legacy
Thailand’s no mask mandate comes with conditions, warns ministry; 2,378 Covid-19 new cases on Sunday (June 26)
Philippines warns on sugar shortages in the country due to low output and import delays
Vietnam reports 557 new Covid-19 cases on Sunday (June 26); total now close to 10.75 million now
Nine people taken to hospital after crash involving taxi and two cars along Pan-Island Expressway towards Tuas in Singapore
Indonesia says Foxconn may invest in projects for its new RM150bil capital
Death toll in Bangkok blaze on Sunday (June 26) rises to two, witness describes horror event
One killed, one missing in Philippine ferry fire from the waters off the central island of Bohol

Others Also Read