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.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you