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Approved foreign investments in Philippines up 45.5 pct in Q2

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MANILA, Sept. 9 (Xinhua) — The total foreign investments approved in the second quarter in the Philippines recorded a 45.5-percent year-on-year growth, reaching 22.5 billion pesos (450.55 million U.S. dollars), the Philippine Statistics Agency (PSA) said on Thursday.

The statistics agency said the foreign investment commitments for the second quarter were mainly driven by investments from Britain, which accounted for 55.6 percent, followed by South Korea and the United States.

The PSA said the information and communication industry bested all other sectors as it stands to receive 12.53 billion pesos (250.89 million U.S. dollars), or 55.7 percent of the total investment pledges.

From April to June, approved projects with foreign interest were projected to generate 17,013 jobs, said the PSA. Enditem