Foreign investment in Philippines pledges plunge 45%

Foreign investment pledges approved by the country’s seven investment promotion agencies (IPAs) fell 45 percent in the third quarter this year, the Philippine Statistics Authority (PSA) reported yesterday.

The IPAs include the Board of Investments (BOI), Clark Development Corp. (CDC), Philippine Economic Zone Authority (PEZA), Subic Bay Metropolitan Authority (SBMA), Authority of the Freeport Area of Bataan (AFAB), BOI-Autonomous Region in Muslim Mindanao (BOI-ARMM), and Cagayan Economic Zone Authority (CEZA).

Investments committed from July to September  totaled P26.7 billion, lower than the P48.6 billion pledged in the same period last year.

In the first nine months of the year, approved foreign investments dropped 12.4 percent to P93.3 billion from P106.6 billion in the same period in 2015.

Most of the foreign investments approved in the third quarter originated from South Korea, the US and Singapore.

South Korea committed P6.5 billion, corresponding to 24.3 percent of total, while the US and Singapore pledged P4.6 billion and P4.1 billion, respectively, corresponding to 17.2 percent and 15.3 percent of approved investments

By industry sector, 49.4 percent of the investment commitments were made in the electricity, gas, steam and air conditioning supply worth P13.2 billion. Manufacturing cornered total investments valued at P5.1 billion  (18.9 percent of total) while transportation and storage had total investments of P3.5 billion (13.2 percent of total).

By location, the bulk of foreign investment pledges approved in the third quarter of the year – P5.5. billion or 20.4 percent of the total – would finance projects in the National Capital Region. Other prominent investment destinations are: Soccsksargen (P4.7 billion, 17.7 percent of total) and Negros Island Region (P4.5 billion, 16.9 percent of total).

Combined investments of foreign and Filipino nationals in the third quarter reached P133.8 billion, down 20.4 percent from P168.2 billion in the same period last year.

All projects approved by the seven IPAs in the third quarter are expected to create 33, 590 jobs, out of which 83.2 percent would come from projects with foreign interest.

Foreign investments approved by the investment promotion agencies differ from actual investment inflows reported by the central bank.

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Fields is becoming the place to be from mid afternoon to 10pm: After that the good girls are GONE!

Bar hopping in Angeles has changed quite dramatically in 2016 with the North Perimeter bars owned by Koreans such as Lipstick opening early around 12-1pm and empty at around 4pm with all girls gone and empty dance-floors until they close at around 7pm business has been really good there and girls are getting work life balance while still making their desired money.. this has caused an effect on Fields where Western owned bars used to open at 5pm and 7pm respectively until the early hours of the morning but now in a more Korean populated bar scene many bar owners on Walking Street have started to open their bars earlier and stockpile their roster with their best girls with the best time to visit being around 3pm.

The Key Bars to visit are now Arcadia (they have really raised the bar with an improved line up and girls who know how to treat all customers is a positive way resulting in many ladies drinks bought and richer girls as a result, but do check it out as there are many SMOKING HOT girls in there right now), Viking also despite the most uncomfortable stools in Angeles City is now full of their best girls in the Afternoon. The I heart color bar opens just after midday and has some of the best looking girls in town but most are gone by 2pm.

Aura which was the most in demand bar for Koreans due to an exceptional line up has slowed down with more options on Walking Street with competitor bars actually easier to find and competition at a very high level.

2016 has seen many new bars and other bars change their business model to remain competitive for some its worked very well and for others its not worked so well

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ABC's new rooftop sensation Aqua Beach Club open and looking spectacular

ABC had their soft opening on Saturday 17th and it was a friendly event in somewhat spectacular settings especially compared to rival Hotels and Clubs, the Swimming pool with DJ Booth is quite impressive as is the well spaced out seated areas which makes me think this will eventually end up being more directed towards couples rather than being a place to pick up girls although I am sure the bar staff could potentially be obliging (although not confirmed)

Well done to businesses like ABC and Kandi for taking customer satisfaction to the next level in Angeles City and keeping up the motto "its more fun in the Philippines" when other places started to take the fun and excitement away.

Here are some photos of Aqua Beach Club for your review:

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