Investments in agri industries rise in 1st half of 2018

Local and foreign investments in agriculture, forestry, and fishing increased by 41.5 percent to PHP2.77 billion in the first half of the year from PHP1.96 billion in the same period last year.

The increase was PHP813.30 million, latest data from the Philippine Statistics Authority (PSA) showed.

Government-approved investments this year covered some PHP1.65 billion during the first quarter and about PHP1.13 billion in the second quarter.

Agriculture, forestry, and fishing accounted for 0.9 percent of the country`s PHP299.83 billion total approved foreign and local investments in 19 industries during the first semester of 2018.

Approved investments refer to project cost or committed investments by foreign and Filipino investors, the PSA said.

"Filipino investments include all committed investments of Filipinos in wholly or partially owned companies," it added. (PNA)