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News

  • DFA official on VFA: Ball in US’ court Now that the Philippines has officially notified the United States of the termination of the Visiting Forces Agreement (VFA), it’s up to Washington to make its next move, according to a ranking foreign affair official. Foreign affairs Undersecretary Brigido Dulay said there are no new VFA-like arrangements with other allies, and officials would take guidance from President Duterte who is the chief architect of foreign policy. Foreign Affairs Secretary Teodoro Locsin Jr. signed the notice of termination, which he announced on Twitter.
  • Foreign investment pledges doubled in 2019 The Philippine Statistics Authority (PSA) reported commitments of foreign investors to set up shop in the Philippines climbed to a record high P390.1 billion last year. The latest PSA data showed that the 2019 haul was not only more than double the P183.3 billion posted in 2018 but it was also likely the highest amount of foreign-led projects so far approved by investment promotion agencies (IPAs). Prior to this, the highest was registered in 2012, when foreign investment pledges amounted to P289.5 billion.

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