FOREIGN INVESTMENT pledges received by Philippine investment promotion agencies (IPA) surged in the third quarter, driven by investments from South Korea and Switzerland, the statistics agency reported.
Preliminary data from the Philippine Statistics Authority (PSA) showed the value of foreign commitments approved by IPAs soared by 434.4% year on year to P146.75 billion in the July-to-September period from P27.46 billion in the third quarter of 2023.
Despite the strong annual growth, the amount was the lowest in investment commitments since the third quarter of 2023.
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