Foreign investment pledges in PH down in Q1

FOREIGN investment approvals fell sharply in the first quarter of 2018, the government reported on Thursday, with only one investment promotion agency (IPA) registering growth during the period.

Seven monitored IPAs approved foreign investment pledges amounting to P14.2 billion in the first three months of 2018, down 37.9 percent from P22.9 billion a year earlier, the Philippine Statistics Authority (PSA) said.

Of the seven IPAs, only the Cagayan Economic Zone Authority (CEZA) posted year-on-year growth. MAYVELIN U. CARABALLO

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