Foreign investment pledges to the Philippines plunged by half last year in what some analysts saw as a sign that Asia's second-fastest growing economy may be losing its sheen as President Rodrigo Duterte continues to pivot away from traditional allies.
The Philippine Statistics Authority (PSA) reported that investment pledges slid 51.8 per cent from 219 billion pesos (S$5.5 billion) in 2016 to 105.6 billion pesos last year.
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