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Region 3 among top recipients of foreign investments so far this year

Central Luzon is among the top five regions in the country with big foreign investments posted just six weeks into 2023, according to the Board of Investments (BOI).

According to a SunStar Pampanga report, Region 3 was the fourth region in the country with the biggest share of foreign investments.

Western Visayas was on top with P293.3 billion, followed by Calabarzon with P111.7 billion, Eastern Visayas with P3.5 billion, Central Luzon with P3 billion, and National Capital Region with P783 million.

The investments in the top five regions form part of the total investment projects approved by the BOI which reached P414.3 billion as of February 9, up by 142.9 percent compared to the same period last year when it recorded P170.5 billion, the Sun Star report said.

The bulk of foreign capital is from Germany with P157 billion followed by the Netherlands (P2.7 billion), Japan (P524 million), United States (P509 million), and United Kingdom (194 million), the report added.

The report quoted Trade and Industry Secretary Fred Pascual as aying: “The country is off to a great start in 2023 with the strong performance of the economy with a 7.6 percent GDP growth.”