For June alone, FDI expanded by 182.7 percent to $674 million from $238 million a year earlier.
Drilon also cited the 2018 ASEAN Business Outlook Survey by the American Chamber of Commerce in Singapore and the US Chamber of Commerce which revealed that only 22 percent chose the Philippines as a possible expansion location, with Vietnam topping the list at 34 percent.
The Philippines ranked sixth, lagging behind Vietnam, Myanmar at 29 percent, Indonesia at 29 percent, Thailand at 26 percent, and Cambodia at 23 percent.
Drilon said that foreign direct investments would be critical to the country’s economic growth and contributes in providing job and business opportunities.
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