By Pierce Oel A. Montalvo, Researcher
APPROVED foreign investments in the Philippines slumped further by 82% in the first quarter to the lowest in one-and-a-half years, according to the local statistics agency, as US President Donald J. Trump tries to undo decades of global economic integration through his sweeping tariff increases.
Foreign investment commitments approved by the country’s investment promotion agencies plunged to P27.99 billion from P155.26 billion a year earlier, according to data from the Philippine Statistics Authority (PSA) posted on its website on Thursday.
This was also 51.5% lower than a quarter earlier and the lowest since the P27.46 billion logged in the third quarter of 2023.
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