MANILA -- Approved foreign investments reached P45.9 billion in the third quarter, 6.5 percent higher compared to P43 billion during the same period last year, according to
Approved foreign investments refer to commitments and pledges approved by the Philippine Economic Zone Authority and the Board of Investments. When these investment commitments materialize after a few years they will be classified as foreign direct investments.
After plummeting year-on-year in 6 of the first 7 quarters of the Duterte administration, approved foreign investments rose in the last 2 quarters.
Year-to-date, total approved foreign investments for the first 9 months of the year amounted to P91 billion, 8.2 percent higher than the P84.1 billion in the same period last year.
In 2017, investment commitments from foreign firms declined by 51.7 percent to P105.7 billion from P219 billion in 2016. The 2017 total is the lowest since 2005.