Foreign investments in Subic drop

SUBIC BAY FREEPORT — Despite the noticeable drop in Foreign Direct Investments (FDIs), around $44.42 million or more than P2 billion worth of investments were still generated inside this premier Freeport for the months of October and November.

The two-month accumulated investments resulted in a cumulative total of some $166.64 million.

According to the Subic Bay Metropolitan Authority (SBMA), a total of some $23.1 million were committed by 12 investing corporations in October while 22 other companies also invested some $21.32 million last month here.

The biggest investor, real estate developer Ayala Land, Inc., pledged more than $21.4 million for the erection, including the operation of a shopping mall here. By JONAS REYES - Manila Bulletin