Investment pledges down 51.8% in 2017

Foreign investment approvals posted a steep fall in the fourth quarter of 2017, the government reported on Thursday, resulting in a full-year tally less than half that recorded the previous year.

Seven monitored investment promotion agencies (IPAs) approved just P21.57 billion in foreign pledges in the last three months of 2017, down 82.8 percent from P125.69 billion a year earlier, the Philippine Statistics Authority (PSA) said.