Investment in Central Visayas in Quarter 1 drop and Foreign pledges increased

By: Morexette Marie B. Erram - Multimedia Reporter - CDN Digital
Published: June 07,2020 - 04:34 PM
Full Article: Investments in CV in Q1 drop by 63.5%
Snippet: CEBU CITY, Philippines — Investment pledges in Central Visayas dipped when the world practically stopped during the first quarter of 2020 due to threats of the coronavirus disease 2019 (COVID-19).

The Philippine Statistics Authority (PSA), in a report made on June 4 and signed by National Statistician Claire Dennis Mapa, found that the total amount of foreign and local investments made in the region for the first three months stood at P2.88 billion.

It was 63.2 percent lower compared to the first quarter in 2019 when Central Visayas’ pledges amounted to P7.89 billion.

The region is also the third among all 17 regions in the country with the highest rate of decrease in investment commitments, next to Bicol Region which dropped by 90.7 percent. Calabarzon is the region with the biggest drop at 93.4 percent.

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