Investment pledges grew 27% to P304b in first half

Investment commitments climbed 27.4 percent in the first half to P304.4 billion from a year ago, the Board of Investments said Wednesday.

“Our economy remains strong, and we remain all the more optimistic as the budget impasse has been resolved. All indicators point to the economy accelerating in the second quarter to around 6 percent due to robust domestic consumption. Our business confidence remains the most bullish among Asean countries and even topped all 34 economies surveyed by Grant Thornton’s International Business Report this year,” said Trade Secretary and BoI chairman Ramon Lopez.

Data showed commitments from foreign investors surged 375.3 percent in the six-month period to P68.9 billion while approved domestic investments rose 5 percent to P235.6 billion.

Read more: Manila Standard