Foreign investment approvals up 109.3%

FOREIGN investment approvals more than doubled in the third quarter, the Philippine Statistics Authority (PSA) reported on Tuesday, surging by 109.3 percent to P27.30 billion from P13.05 billion a year earlier.

The investment pledges, the PSA said, comprise those approved by the Authority of the Freeport Area of Bataan, Board of Investments (BoI), Clark Development Corp., Cagayan Economic Zone Authority, Philippine Economic Zone Authority, Subic Bay Metropolitan Authority, and the Zamboanga City Special Economic Zone Authority.