Daily News

China investment pledges jumped 2,000%+ to P50.69 Bn in 2018

Investment pledges approved by the government surged 69.3% in 2018 on the back of Chinese investments inflow, data released by the Philippine Statistics Authority (PSA) showed. The PSA said total foreign investments in 2018 increased to P179 billion from P105.7 billion in 2017. In the last quarter of 2018, foreign investments quadrupled, or a growth of 321.2%, to P91.2 billion from P21.6 billion in the previous year. Data showed that investment pledges from China in the whole of 2018 grew over 2,000% to P50.69 billion, from P2.33 billion. In 4Q2018, Chinese investment pledges grew by over 17,000% to P47.99 billion in 2018, from P266.8 million in 2017. China accounted for as much as 52.6% of total foreign investment pledges approved in the October to December 2018 period, and 28.3% of total foreign pledges in the whole of 2018.