Registered foreign investments in 2014 plunged 69.42 percent to P36.888 billion from P120.646 billion in 2013 with Netherlands topping as the Philippines number one source of foreign investments while Indonesia shoot up as second biggest while investment from tax haven British Virgin Islands declined significantly, data from the Board of Investments showed. The share of foreign investments to total 2014 approved BOI investment pledges of P354.5 billion also declined to 10 percent (P36.888 billion) or more than half lower than the 26 percent share in 2013 (P120.646 billion). The share of domestic investments this year jumped to 90 percent (P317.69 billion) from 74 percent (P345.39 billion) share in 2013.
President Aquino is rallying the nation to demonstrate its “1,000 percent” effort and show the best of the Philippines has to offer as the country gears up to host the Asia-Pacific Economic Cooperation (APEC) 2015 Summit. The President, addressing the formal launch of APEC 2015 in Makati City, said the nation must strive to be a “prominent example of how economic growth should be.” APEC 2015 LAUNCHED –
Vice President Jejomar C. Binay has written President Aquino to urge the release of P2 million that will be used as blood money to enable the release of overseas Filipino worker (OFW) Jonard Langamin who is currently languishing in a Saudi Arabia prison. Binay, the Presidential Adviser on OFW Concerns, said he has also asked the Department of Foreign Affairs (DFA) to expedite the release of the blood money so Langamin can spend Christmas with his family.