Foreign-led projects approved by the country’s investment promotion agencies (IPAs) in the third quarter fell 83 percent to P31 billion amid prolonged COVID-19 quarantine.
The Philippine Statistics Authority’s (PSA) latest report on approved foreign investments showed that the value of projects registered from July to September to avail themselves of tax and other fiscal perks once they start operations here dropped from P182.4 billion a year ago, when a big-ticket information and communications technology project was registered with the Board of Investments (BOI).
Besides the BOI, the six other IPAs included in the PSA’s quarterly report were the Authority of the Freeport Area of …
Keep on reading: Foreign investment approvals down 72.8% to P75.6B