Approved foreign investments in Philippines down by 54.1 per cent in Q1

MANILA, May 19 (Xinhua): Total foreign investments (FI) approved in the first quarter of 2022 reached over US$171 million, 54.1 per cent lower compared with the amount in the same period last year, the Philippine Statistics Authority (PSA) said on Thursday.

The PSA said the foreign investments for the first quarter were mainly driven by investments from Japan which accounted for 39.7 per cent of the total approved FI, followed by South Korea and Singapore.