Total foreign investment pledges approved by the six investment promotion agencies (IPAs) grew by 60.5 percent in the second quarter of the year, the Philippine Statistics Authority (PSA) reported on Thursday.

PSA said investment pledges approved by the Board of Investments (BoI), Clark Development Corp. (CDC), Philippine Economic Zone Authority (PEZA), Subic Bay Metropolitan Authority (SBMA) and the Cagayan Economic Zone Authority (CEZA) amounted to P49.6 billion from P30.9 billion in the same quarter last year.