MANILA, Philippines - Less foreign companies have committed to invest in the Philippines in the third quarter, amid a global slowdown.
Government data showed foreign investments approved by the government plunged 44 percent to P18.3 billion in the third quarter.
Nearly a fourth of the pledges came from the Netherlands. Japanese investors accounted for 20 percent, and US investors accounted for 15 percent.
For the first nine months, approved investments, which are commitments until they materialize, fell 35 percent to P19.1 billion. - ANC